MTR Gaming Group has been approved by the Michigan racing commissioner's office. A purchase price was not disclosed.
"After careful review of the purchase agreement between MTR Gaming and the Jackson Trotting Association, the office of racing commissioner has determined that the transaction meets the requirements of the horse racing law," says acting Racing Commissioner Christine White. "Furthermore, MTR Gaming was found to possess sufficient financial resources and a business plan to operate the race meeting in a lawful and competent manner."
MTR Gaming's flagship track is Mountaineer Race Track in Chester, WV. It also owns Scioto Downs in Columbus, OH; a 50% interest in a proposed harness track near Minneapolis; the proposed Presque Isle Downs in Erie, PA; and Binion's Horseshoe Casino in Las Vegas.
The Jackson Harness Raceway is located on the Jackson County Fairgrounds and the property for the track is leased from the fair board for between $75,000 to $80,000 per year. It features a 6,500-seat grandstand and a restaurant and lounge. Jackson Harness Raceway offers year-round simulcasting and features live racing three nights a week April to June. The track opened in 1948.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
