Chickasaw Nation might lose bid for Texas track

Thursday, October 15, 2009  

The Chickasaw Nation of Oklahoma might not have the winning bid for a racetrack in Texas after all.

Global Gaming Solutions, a tribal subsidiary, offered $27 million for the Lone Star Park in a bankruptcy auction. The tribe was the only bidder at the time.

A federal bankruptcy judge ruled that another company should have been allowed to participate. An affiliate of Penn National Gaming Inc. says it will offer $40 million for the track so a new auction will take place on October 23.

Lone Star's owner, Magna Entertainment Corp., is in bankruptcy proceedings. The tribe bought Remington Park in Oklahoma from Magna for $80.25 million.

Get the Story:
Judge resets auction for Texas horse track (The Oklahoman 10/15)
Lone Star back on the auction block (The Fort Worth Star-Telegram 10/14)
Sale of Texas track to Chickasaws hits snag (AP 10/14)