Nevada Casino to Buy Half of Out-State Track
The state has approved a request by Golden Nugget Inc. to buy nearly 50% of a Pennsylvania race track and build half a dozen off-track betting outlets in the state.
It is the first time that the Nevada Gaming Commission has allowed a Nevada casino company to become a major owner in an out-of-state race track.
Golden Nugget will acquire 50% of Greenwood Racing Inc. for $10 million. Greenwood is buying 96% of Philadelphia Park Thoroughbred Race Track in Bensalem from International Thoroughbred Breeders Inc.
Greenwood also is building six off-track betting sites in Pennsylvania at up to $3 million each.