Penn National Gaming wins Rosecroft auction
January 28, 2011,from the USTA Communications Department
Columbus, OH —- Penn National Gaming is in line to become the new owner of Rosecroft Raceway, agreeing to pay $10.25 million in cash for the racetrack.
According to a story in the Baltimore Sun, Penn National outbid Baltimore Orioles owner Peter G. Angelos and one other unidentified bidder in an auction of the harness facility.
Penn National also agreed to pay an additional $3 million if the General Assembly approves a bond that would help the company finance the track’s operations.
The sale is subject to the bankruptcy judge’s approval.
To read the complete story in the Baltimore Sun, click here.
Related Articles:
- New life for Rosecroft (Monday, January 31, 2011)
Penn National Gaming bought Rosecroft Raceway for $10.25 million last Friday, and plans to restore live harness racing to the track this year.
- Rosecroft bidder files objection (Wednesday, February 02, 2011)
One of three bidders for Rosecroft Raceway in last week’s bankruptcy auction is objecting to Penn National Gaming’s purchase of the track, arguing it had the higher and better offer.
- Judge approves Penn National’s purchase of Rosecroft (Wednesday, February 02, 2011)
A federal judge today approved the sale of Rosecroft Raceway to Penn National Gaming for $11 million in cash over the objection of a group led by former state Democratic Party Chairman Nathan Landow.
- More court filings in Rosecroft sale (Friday, February 11, 2011)
There was more news concerning the sale of Rosecroft Raceway this week.
- Penn National Gaming finalizes purchase of Rosecroft (Monday, February 28, 2011)
Penn National Gaming completed their transaction to purchase Rosecroft Raceway today.