Indian Gaming > Chickasaw Nation might lose bid for Texas track

October 15, 2009

Chickasaw Nation might lose bid for Texas track

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)