SHAKOPEE  (AP) — The Minnesota Racing Commission has approved a business deal between the Shakopee Mdewakanton Sioux Community and Canterbury Park.

The commission voted 5-3 Wednesday to approve the deal. The tribe offered the Shakopee track $75 million over 10 years to increase purses for winning horses. In return, Canterbury dropped its long bid for slot machines.

Running Aces Harness Park, the state's other track, opposed the deal and asked the commission to reject it. Running Aces officials said the tribe's offer only proved a competitive racino might be close to winning state approval.

But racino backers told the commission it was time to make peace between the rival gambling operations at Canterbury and Mystic Lake Casino four miles away.

Copyright 2012 The Associated Press.