Thistledown Makes Payment; Will Stay Open

Thistledown race track in North Randall, Ohio made a required $36,000 payment toward a bond, which allows it to remain open, the Cleveland Plain Dealer reported June 17 on its Web site, cleveland.com.

The Ohio State Racing Commission June 16 voted 5-0 to shut down the facility had it not made the payment.

Thistledown, owned by Magna Entertainment Corp, which has filed for bankruptcy, owed the $36,000 to complete a $1 million bond payment. The track had requested that the commission accept the $964,000 as payment in full or grant a 10-day extension for payment.

"In light of the way the OSRC responded to our request, it was important not to see Thistledown closed," Magna attorney Gregg Scoggins told the Plain Dealer. "We were disappointed they didn't grant our request, but thankfully we were able to achieve making the payment.

"That we were able to do this in 24 hours does not mean it wasn't complicated," Scoggins said.

The paper reported that there have been numerous people or groups express an interest in purchasing Thistledown, which must be sold as part of the bankruptcy. Bids must be received by July 31, and the winning bidder is to be announced Sept. 8.

"Thistledown is in the process of making the payment," OSRC executive director Sam Zonak told the paper. "I'm extremely happy we don't have to shut down racing there."

 

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