Magna again delays auction for Preakness, Pimlico, Laurel

February 03, 2010

Bankrupt Magna Entertainment Corp. has for the third time delayed the sale of Laurel Park, Pimlico Race Course and the Preakness. The auction is now scheduled for Feb. 23, according to court records. A hearing to approve the plan has been rescheduled for March 3. The company did not give a reason for the delay in court records, but many close to the proceedings have said Magna is waiting to see if opponents of slots at Arundel Mills are able to get enough signatures on a petition to put the issue on the ballot in November. Uncertainty over slots at the Hanover mall could raise the bids for the races by bettering the chances of slots at Laurel Park.

-Andrea K. Walker

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