The wrong partner for Maryland racing
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Maryland's horse industry had reason to worry when the sale of the
Maryland Jockey Club — and with it the Laurel Park and Pimlico race
tracks — was short-circuited so that MID, a new arm of Frank Stronach's
Magna empire, could buy the properties from the bankrupt Magna Entertainment Corp.
The pledges of a new vision for making horse racing viable rang hollow
after the first incarnation of Magna failed to make good on the same
promises. The announcement today that Penn National Gaming
is entering a joint venture with MID to run the jockey club shouldn't
come as much comfort; although Penn National started nearly 40 years
ago as a thoroughbred track outside of Harrisburg, Pa., the company is
now all about slots and table games, with horse racing a distinct
afterthought.
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