Pa. horse breeder bids on racetracks, Preakness

December 22, 2009|By Laura Smitherman

A Pennsylvania horse breeder and racing consultant backed by private equity has come forward as one of six bidders for the Maryland Jockey Club's racetrack assets.

Blow Horn Equity LLC is seeking to buy Pimlico Race Course, Laurel Park and the Preakness from Magna Entertainment Corp., the jockey club's parent company that filed for bankruptcy protection in March. Jeffrey Seder, an entrepreneur who owns a horse farm outside Philadelphia, is the company's chief executive. He said it is backed by a hedge fund that he declined to name, citing a confidentiality agreement.

Other bidders include Baltimore developer Cordish Cos., Penn National Gaming Inc., and the family of Joseph A. De Francis, which has a long history in Maryland's horse-racing industry. The racetracks, along with a Bowie training center and the Preakness, are being auctioned next month.

Seder declined to give details of his proposal, as did other bidders, but said he didn't make slot machines at Laurel Park a condition. A proposal by Cordish to put a casino at Arundel Mills mall has been awarded the sole slots license for Anne Arundel County, though the project faces opposition.

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