Penn National

We on the editorial page have been strongly critical of Penn National since its entree into Maryland horse racing last year on the grounds that we believed they were interested solely in finding a way to bring slots to the tracks -- or block competition for their existing casinos nearby -- rather than actually making a go of horse racing. Fairness dictates, then, that we make note of the company's application this week for a license to resume harness racing at Rosecroft Raceway, which Penn National bought at auction in January for $11 million.

Pimlico Race Course Ruler On Ice, J W Blue among field of 7 in Tesio Stakes Seven promising 3-year-olds with possible Preakness dreams will duel in today's $75,000 Federico Tesio Stakes at Pimlico Race Course . Ruler On Ice and J W Blue are the one-two program selections in the 11/16-mile race. Ruler On Ice is a front-runner, and J W Blue has started off slowly in his past four races. Ruler On Ice (2-1) reaches Baltimore after starts at Aqueduct, Parx Racing and Sunland Park this year, including an allowance victory and a closing third in the Sunland Derby (Grade III)

Rapid Redux, a 5-year-old gelding, earned his fifth victory of the year, the most for any runner in North America, by taking the eighth race at Laurel Park. The chestnut, ridden by Sheldon Russell and trained by David Wells , won the starter allowance test over three other entrants. The horse is 5-for-5 this year, having won three times at Laurel, once at Charles Town and once at Parx Racing. Since being claimed for $6,500 at Penn National in October by owner Robert Cole , the son of Pleasantly Perfect is 8-for-9 with seven straight victories.

Penn National Gaming Inc. has completed its acquisition of Rosecroft Raceway, enabling the Prince George's racetrack to emerge from Chapter 11 bankruptcy. The racetrack's reorganization plan was dependent on the former owner of Rosecroft, Cloverleaf Enterprises Inc., to sell most of its assets, including the track. A bankruptcy judge approved Penn National's $11 million bid for the track in February, but the transaction was finalized Monday. However, the case is still wrapped up in court because a competing bidder, Landow Partners, wishes to submit a higher bid. A hearing is scheduled for March.

Casino operator Penn National Gaming Inc. is considering selling its stake in the Maryland Jockey Club and urging its partners to drop a legal challenge to the bidding process that awarded a slot machine license for Anne Arundel County to a competitor. The moves by Penn National might signal the company is shifting its focus to Rosecroft Raceway, the Prince George's County harness-racing track it is buying for $11 million. Penn had set its sights on slots at Laurel Park, which is operated by the Jockey Club, and company officials have indicated that they also plan to push for the legalization of slots at Rosecroft.

In the past year alone, national casino operator Penn National Gaming has become a dominant player in Maryland's horse racing and gambling industries. Penn National opened the state's first slots parlor and acquired an ownership interest in Maryland's two major thoroughbred racetracks. And with last week's purchase of shuttered Rosecroft Raceway in Prince George's County, the company has positioned itself to win big if gambling is expanded in the state. "We planted a large flag in Maryland, and we're there for the long haul," said Peter Carlino, Penn National's chairman and CEO, during a conference call with analysts last week.

A bankruptcy judge approved Wednesday the sale of closed Rosecroft Raceway to casino operator Penn National Gaming for $11 million in cash over the objection of a group led by former state Democratic Party Chairman Nathan Landow. Wednesday's hearing essentially turned into another auction with last-minute maneuvering, as both parties upped their bids for the Prince George's County harness track before Penn National made its final $11 million offer. The proceedings also included the testimony of Democratic state Sen. C. Anthony Muse, who said he supports Landow Partners as the track's new owner because it would have the backing of the community and local and state lawmakers, especially when it comes to expanding gambling at the facility.

A jilted bidder is objecting to casino operator Penn National Gaming's $10.25 million purchase of bankrupt Rosecroft Raceway, arguing it had the higher and better offer at last week's auction. Landow Partners, whose principals include former state Democratic Party Chairman Nathan Landow, said the trustee overseeing Rosecroft's bankruptcy "did not exercise the appropriate business judgment and failed to obtain the maximum value" for the Prince George's County harness track, according to court documents filed Tuesday.

Bethesda developer Nathan Landow, a former state Democratic Party chairman, was the third bidder in the auction of bankrupt Rosecroft Raceway in Prince George's County. Landow confirmed Monday that he lost to casino operator Penn National Gaming, which agreed to pay $10.25 million in cash. Penn National said it would seek to resume live racing and lobby for slots at the harness track. Rosecroft is not one of the five designated locations for slots under a voter-approved referendum that legalized slot-machine gambling in Maryland.

Casino operator Penn National Gaming emerged Friday as the new owner of bankrupt Rosecroft Raceway and made clear its intentions to push for slot machines at the Prince George's County track and to restart racing there. Penn National agreed to pay $10.25 million in cash for the harness track in an auction, outbidding Baltimore lawyer and Orioles owner Peter G. Angelos and one other unidentified bidder, said Michael J. Lichtenstein, the attorney representing the bankruptcy trustee, who oversaw the private sale.