Penn National Ponders Md. Jockey Club Stake Sale

BALTIMORE (AP) — Penn National Gaming Inc. is considering selling its 49 percent stake in the Maryland Jockey Club, including ownership of Pimlico Race Course and Laurel Park.

Penn National spokesman D. Eric Schippers said Thursday that a single owner may serve the club better than having to deal with the complexities of a partnership.

Ontario-based MI Developments Inc. owns 51 percent of the club.

Wyomissing, Pa.-based Penn National bought its stake in May with the intent of getting slots approved at Laurel Park, but Cordish Cos. won the sole slots license for Anne Arundel County and has broken ground for a facility next to Arundel Mills mall.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Comments

One Comment

  1. derrickman says:

    F…..K them , hold their feet to the fire. They only bought it because of the slots possibility. They have no interest in racing & besides they’re from out of state carpet baggers anyway.

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