Businessman purchased Turf Paradise in 2000; battles with major league sports, Native American casinos for the entertainment dollar in recession-battered economy in Phoenix metroplex
Turf Paradise concluded it 50th anniversary season May 21 with substantial increases in attendance and handle.
Turf Paradise's 49th season of racing ended Sunday, with the Phoenix, Arizona track reporting a 2% across-the-board increase in wagering during the 160-day stand (seven days of racing were cancelled due to extreme weather).
Jerry Simms, who purchased Turf Paradise in January 2000 for a reported $53-55 million, sold his stake in the Phoenix racetrack Tuesday. Simms was forced to sell the track by state regulators after the Arizona Department of Racing revoked his licence in October 2001.
Regulators in Arizona have reportedly set the terms under which Jeremy "Jerry" Simms is to divest his majority ownership interest in Turf Paradise racetrack.
The Arizona Department of Racing has revoked the license of Turf Paradise owner Jerry Simms, the Arizona Republic reported. Regulators cited his alleged ties to organized crime and involvement in a California bribery scandal.
Most Popular Stories
- Social Inclusion On Derby Path After Big Win
- Effort to Resolve Virginia Dates Fails Again
- Constitution to Make Stakes Debut in FL Derby
- Jockey Club 2014 Fact Book Posted Online
- 'Mandate' Should Be Strong in Rebel Stakes
- Jockey Von Rosen Suffers Serious Injury
- Rosario Rides General a Rod in Florida Derby
- McGaughey Encouraged by Honor Code's Effort
- New York Owner/Breeder Bomze Dies at 76
- Maryland-Based Owner Heft Dies at 94