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DEVELOPMENT AGREEMENT

THIS AGREEMENT made as of the 8th day of March, 2006,

BETWEEN:

Saskatchewan Standardbred Horseman’s Association, a company incorporated under
the laws of Saskatchewan, hereinafter called “SSHA”

and

MBC Racing Inc., a company incorporated under the laws of Ontario, hereinafter
called “MBC”

WHEREAS SSHA and MBC wish to pursue a racetrack and gaming license in
Saskatchewan;

THIS AGREEMENT witnesses that in consideration of the mutual covenants
hereinafter contained and for the other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by each party, the
parties hereto have agreed as follows;

  1.
SSHA and MBC will jointly pursue a racetrack and gaming license from the
province of Saskatchewan to operate a harness track with electronic gaming
machines;
   

  2.
MBC, at its own cost, will perform the needed due diligence activities to
develop observations including the economic impact implications, visitation and
profitability of the gaming machines, and the high level examination of the
project on the harness racing industry;
   

  3.
MBC, at its own cost, will generate a formal business plan for the project with
financial projections;
   

  4.
SSHA agrees to work exclusively with MBC in pursuit of the racetrack and gaming
licenses and keep all information regarding this agreement confidential with any
disclosure requiring the written consent of MBC;
   

  5.
MBC and SSHA agree to work in good faith;

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  6.
This agreement shall be governed by and construed in accordance with the law of
Ontario.

IN WITNESS WHEREOF this Agreement has been executed by or on behalf of each of
the parties hereto as of the day and year first above written.

 

MBC Racing Inc.

         

Per: /s/ Michael Connell             
          Name: Michael Connell
          Title: President

       

Saskatchewan Standardbred Horseman’s Assosciation

          Per: /s/ Alvey Halbgewachs          
          Name: Alvey Halbgewachs
          Title: President

 

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