As I’m certain many of you are aware, there is a proposed KY horse racing track to go in London Kentucky - filling the last license available for horse racing in Kentucky. The original purpose and scope for the new facility was to promote a quarter horse racetrack.
However, that proposal appears to be slowing down in its momentum. 3 of the application’s partners have withdrawn and now the last license may be up for grabs again. The 3 persons that withdrew from the process with the Kentucky Horse Racing Authority are as follows:
Dr. Edward Allred
And they were working together in an organization known as Sprint Racing Partners.
(To provide some background, those 3 individuals, and another person named Bruce Rimbo had previously formed Zia Partners which constructed Zia Park horse racetrack in New Mexico in 2004. The horse racetrack was then sold to Penn National Gambling for $200 million.)
The persons remaining in the Sprint Racing Partners are:
Bruce Rimbo - one of the members in Zia Partners
Johnnie T. L. Jones, Jr., attorney - founder of Walmac
Brent Rice - developer
Chris Sullivan - Outback Steakhouse founder
At the present time, no new investors are currently step forward to replace the ones that had previously been listed on the horse racing application.
So, this begs the question that if this deal isn’t going to come together - that there may be an opportunity for others that would be interested in pursuing such a venture to step in and acquire the last of the 9 horse racing licenses for Kentucky.