Sketchy future for proposed Lawrence County racino

March 25, 2010NEW WILMINGTON, Pa.-- It's been nearly a decade of ups and downs when it comes to bringing a harness racetrack to Lawrence County. Now with the developers of the Valley View Downs racetrack and casino in bankruptcy court, the future of the project is being questioned. Last week, Wells Fargo, a creditor for Centaur Gaming, told a bankruptcy court the company cannot afford to build Valley View Downs.

However, Lawrence County Commissioner Dan Vogler remains optimistic despite the Chapter 11 status of Centaur Gaming, the company trying to build the $450-million dollar racino in Mahoning Township on 240-acres near Route 422. Vogler attends regular meetings of the State Gaming Commission in Harrisburg supporting efforts by Centaur to secure a casino license for the racetrack.

Centaur says it needs the license to secure credit to build the facility. However, banks have refused to lend Centaur $176 million needed to build just the initial phase of the track.

Some published reports hint that Wells Fargo's statement could force a bankruptcy judge to scrap Centaur's plans and release the current harness racing license back to the state for a rebidding process.

However, Commission Vogler says he sees a different scenario where Centaur emerges from bankruptcy stronger and more viable.

Watch Jodran Early's interview with Vogler and hear his take on the future of the Valley View Downs project that many hope will bring hundreds of new jobs to Lawrence County.