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Old 11-28-2007, 08:25 PM
ALostTexan's Avatar
ALostTexan ALostTexan is offline
Sheepshead Bay
 
Join Date: Mar 2007
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Default Penn National No Longer Interested in Rosecroft

Penn National Nixes Rosecroft Deal

Indicating their true intention in a deal to purchase Rosecroft Raceway, a harness track in Fort Washington, MD, Penn National has backed off their previous plans to purchase the track after the recent news that the VLT deal in Maryland would exclude Rosecroft. Rosecroft is currently operating at a loss, and “pursuant to its rights under the purchase agreement”, Penn National has opted to cut their losses in the deal.

Penn National Gaming Inc. (PNGI) said as a result of the Maryland legislation, “Rosecroft, which already has been operating at a loss, will be denied the opportunity for an alternative revenue source that would enable it to compete with other tracks in the state and racing and gaming venues in neighboring states.”

This looks like another sign that the end of Rosecroft is coming, and this move will probably only speed up that death...
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