BUFFALO, N.Y. and LOUISVILLE, Ky., Dec. 21, 2012 (GLOBE NEWSWIRE) -- Miami Valley Gaming & Racing, a joint venture of Delaware North Companies Gaming & Entertainment and Churchill Downs Incorporated (CDI), today completed its purchase of the harness racing licenses and certain assets held by Lebanon Trotting Club Inc. and Miami Valley Trotting Inc.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16414
The closing on the purchase and recent state and local approvals pave the way for construction to begin on a new gaming and racing facility located near exit 29 off of Interstate 75 between Cincinnati and Dayton. The new facility is expected to open in the first quarter of 2014."We are pleased to be moving forward with this significant economic development project that is expected to add $24 million a year to the local economy and create 1,000 construction jobs and 700 permanent jobs in southwestern Ohio," said William Bissett, President of Delaware North Companies Gaming & Entertainment. Bill Carstanjen, CDI's President and Chief Operating Officer, added, "We appreciate the hard work of everyone involved, including the Ohio State Racing Commission and the Ohio Lottery Commission, to complete the necessary steps for us to build this new, world-class gaming and racing facility that we expect will be another great entertainment destination in Ohio."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts