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October 19, 2009
GRAND PRAIRIE, TX - Lone Star Park is back on the auction block after the sudden
disintegration of an apparent purchase by the Chickasaw Nation of Oklahoma for
$27 million.
Judge Mary Walrath of the U.S. Bankruptcy Court in Delaware ruled the property
return to auction on October 23 after Penn National Gaming submitted a $40
million offer to Magna Entertainment, the former owner.
Magna asked the judge to accept the Penn offer, but she sided with the creditors
that wanted to reopen the auction.
"I don't necessarily like it, but I understand it," said Mayor Charles England
of Grand Prairie. "But we're going to live with whoever gets the racetrack."
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