The Fair Grounds and Louisiana horsemen reached a $25 million settlement over video poker purse revenue Aug. 7.
An attorney for the Fair Grounds said Louisiana horsemen were on the verge of a settlement Friday night that could spare the New Orleans track from an auction in bankruptcy court later this month over a $90 million video poker judgement.
Louisiana horsemen have filed an objection to the Fair Grounds' bankruptcy disclosure statement, alleging that the track misrepresented and omitted key financial information.
A state district judge ruled March 22 that Fair Grounds owes horsemen almost $90 million in damages from the video-poker lawsuit that led to the track's filing for Chapter 11 bankruptcy reorganization last August, the New Orleans Times-Picayune reported.
An Iowa riverboat operator has taken full ownership of Evangeline Downs and acquired the land to build a new track and casino in an adjoining parish.
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