LAUREL -- Lou Guida said yesterday that he will not persist in efforts to buy out the stock of Laurel Race Course controlling owner Joe De Francis.
After Guida received official word that his second offer -- increased from $8 million Monday to $9.5 million Wednesday -- had been rejected by De Francis, he said: "I thought it was a fair offer, but it's a free country. He can do what he wants.
"There's no point in making further offers," said Guida, whose Laurel/Guida group owns a 50 percent equity interest in the track. Because his stock is in the form of a limited (non-voting) partnership, Guida has no say in track management.