Lonny Powell, most recently an executive with Youbet.com, is helping a group identify and examine potential racetrack purchases.
Powell, while in Austin, Texas, March 26 for the Association of Racing Commissioners International convention, said his job is to start obtaining information on available racetracks. He said he couldn’t name the principals in the group, though their identities would soon be known.
Powell said the gig will allow him to pursue other opportunities as well.
When asked about specific tracks, Powell said he couldn’t comment. It’s well known, however, that Magna Entertainment Corp. is attempting to sell several of its tracks, including Remington Park in Oklahoma and Thistledown in Ohio.
Powell said the group is interested in tracks with a gaming component and real-estate upside, as well as independently owned facilities.
Powell has held numerous industry positions, including RCI president. He said he attended the Austin meeting for networking purposes.