Well why else would the company's officials be at Friday's auction for the beleagured harnesss racing track in Prince George's County?
According to a source familiar with the situation, Penn National Gaming, which co-owns Maryland's two thoroughbred racetracks, will be present at the auction Friday afternoon for Rosecroft Raceway. With Laurel Park only 30 miles away from Rosecroft, it makes sense Penn National would want to protect its property by snatching up any nearby potential competitors.
The auction will be held in attorney offices in Potomac and is closed to the public to protect the privacy of the bidders.
Orioles owner Peter Angelos is the only public bidder as Rosecroft's trustee named his $9 million bid the front runner. The other two bidders Friday must outmatch that in order to win the track.
Rosecroft fell into bankruptcy in June 2009 after a dispute with the Maryland thoroughbred industry hindered the track from broadcasting and collecting bets on thoroughbred races. The track canceled live racing in 2008 and at that time, simulcast betting was its primary source of revenue.
After a failed attempt to sell the track in bankruptcy, the court appointed a trustee late last year, who arranged the auction of the track.