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Orioles Owner Angelos Bids On Rosecroft

Published: January 5, 2011 10:55 am ET

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It has been reported that Peter Angelos, owner of Major League Baseball's Baltimore Orioles, is bidding to purchase Maryland's closed Rosecroft Raceway with a new push for expanded gaming at the five-eighths mile facility.

Herald-mail.com has reported that Angelos' proposal, which is supported by Rosecroft Raceway's owner and the bankruptcy trustee, would see him pay $9 million in cash plus another $5 million if slots are permitted at the facility and a casino is operational at the racetrack by December 1, 2012.

The news comes after fellow Maryland harness raceway Ocean Downs opened its expanded gaming area yesterday.

The article states that Angelos' proposal would first have to be approved by the bankruptcy court. Further down the road, the initiative would also have to face a voter-approved amendment to the state constitution.

The report quotes both Maryland Racing Commission member John Franzone and Kelley Rogers, president of Rosecroft's owner, Cloverleaf Enterprises Inc., as being positive about Angelos' interest in the endeavour.

"Mr. Angelos is a good businessman, a prominent lawyer and well known in the community. To me, it's like a trifecta," Franzone said.

Rogers was quoted as saying, "We're thrilled. The Angelos family is a great family in Maryland. They're going to do great things for Rosecroft. We're really pleased. It's been a long winding process."

(With files from herald-mail.com)

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