Matt Hegarty joined me Wednesday to talk the first story (2nd below) and related issues, but the Lone Star development is new today...
Disagreement on Lone Star bid
By Matt Hegarty
http://www.drf.com/news/article/108068.html
A company owned by the Chickasaw Nation that has made a $27 million bid to buy Lone Star Park in Texas from the bankrupt racetrack operator Magna Entertainment has asked the court overseeing Magna's reorganization to refuse to recognize a $40 million bid made by Penn National Gaming Inc. for the track, according to court documents made public on Wednesday.
Magna asks for new auction dates
By Matt Hegarty
http://www.drf.com/news/article/108047.html
Harrah's Entertainment, which reached the deal to purchase Thistledown in early September, has notified Magna that it believes that the deal can be scuttled because the Ohio Supreme Court recently ruled that slot machines could not be installed by Ohio racetracks until voters are offered the opportunity to approve the devices. According to the note, Harrah's sent a letter to Magna officials on Sept. 23 asserting that the ruling "gives it a right to terminate its purchase agreement," but the company has so far elected not to scuttle the deal "without waiving its right to terminate in the future."
Harrah's officials did not respond to requests for comment on Monday.