Central and Eastern Kentucky
Company Offers To Buy State Horse Tracks
(2007-06-11)
INDIANAPOLIS, IN
(wbaa) -
The lead owners of Indiana's two horse-racing tracks have offered to buy out their partners. LHT Capital hope to take on full ownership with the proposed 280-million dollar deal.
The company is headed by the founder of Indiana Downs.
The buy out offer comes a month after the Governor authoriezed slot machines at Indiana's horse tracks.
State horse-racing commission executive director Joe Gorajec says the group will have a say in any ownership transfers even though it does not technically have jurisdiction until a track applies for a slot machine license.
Gorajec says regulators can consider if the state is entitled to a cut of any profits.
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