Racing commission approves deal for Valley View Downs
Published: Thursday, October 25, 2012
Updated: Thursday, October 25, 2012 21:10
HARRISBURG (AP) — The Pennsylvania Harness Racing Commission has approved a deal designed to help a proposed racetrack and casino become a reality in Lawrence County.
The commission on Thursday approved the transfer of American Harness Tracks stock to Philadelphia-based Endeka Entertainment.
However, Endeka must meet several conditions. They include verifying that at least $170 million is available for the construction of a racetrack and that a casino license application is made to the Pennsylvania Gaming Control Board.
Endeka also promised that the Valley View Downs project will be built in Mahoning Township.
The commission also approved the new group's individual investors, among them Philadelphia insurance executive Manuel Stamatakis, property developer Peter DePaul, and Edward Snider, chairman of Comcast Spectacor, which owns the Philadelphia Flyers.