Canterbury Park and the Leech Lake Band of Ojibwe have cut a deal to simulcast horse racing at the tribe's Northern Lights casino in Walker.

The first-of-its-kind agreement between a Minnesota tribal casino and a racetrack was announced Wednesday and is contingent on approval of state and tribal gaming authorities. If the Minnesota Racing Commission and National Indian Gaming Commission agree to the proposal, the casino could begin broadcasting races within months.

"It's very exciting for us," said Canterbury Park CEO Randy Sampson.

The five-year agreement would allow the casino and the track to split the wagering revenue from the races. Canterbury has been working with the state's tribes on such an agreement since Minnesota legalized simulcasts in 2012.

"There is significant interest in live horse racing in Northern Minnesota, so we see a great opportunity to meet customer demand and continue to support our mission of community development," Leech Lake chairwoman Carri Jones said in a statement.