OKLAHOMA CITY (AP) — A subsidiary of the Chickasaw Nation of Oklahoma has again submitted the apparent high bid to buy the assets of Lone Star Park racetrack near Dallas.
Chickasaw subsidiary Global Gaming LSP LLC submitted a bid of $47.8 million for the pari-mutuel horse racing track in Grand Prairie, Texas.
Global Gaming had thought it would be awarded the track earlier this month after bidding $27 million. But a bankruptcy judge in Delaware ordered a new auction after ruling that an affiliate of Penn National Gaming Inc. was wrongfully excluded from the bidding process.
Global Gaming has filed an appeal of the ruling to reopen the bidding but company officials indicated the appeal may be dropped if the sales agreement is approved.
The bankruptcy judge still must agree to the sale. A decision could come sometime this week.
___
Information from: The Oklahoman, http://www.newsok.com
