Penn National Snares Rosecroft

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)