Published:
January 28, 2011 05:11 pm EST
Baltimore Orioles' owner Peter Angelos had submitted the stalking-horse bid for the bankrupt Rosecroft Raceway, but it has been reported that Penn National Gaming bidder has snared
the prize from him.
According to a report by The Washington Post, Penn National, the established racetrack operator, bettered the Major League Baseball franchise owner's bid in a bankruptcy auction today.
The article states that Penn National won the thee-hour auction today with a $10.25-million cash offer.
A constitutional amendment would be needed in order for slot machine wagering to be legal at the harness raceway.
(With files from The Washington Post)
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