HENDERSON, KY (WFIE) -
Executives with a New York horse racing track, now have initial approval to purchase 30% of Ellis Park.
A subcommittee of the Kentucky Horse Racing Commission approved the application for Saratoga Harness Racing, Incorporated.
Ellis Park owner Ron Geary says a partnership with another company is something he's been thinking about for years. Something he says will help bring in more opportunities for Ellis Park.
Geary says he selected Saratoga Casino and Raceway from a group of 44 potential investors. He says, with that $4 million purchase of 30% percent of Ellis Park down the road, Saratoga would also have the option of eventually purchasing more of the park.
Geary tells us Saratoga Casino and Raceway has had success with video terminals for several years, and would help increase the potential of Ellis Park's new instant racing machines.
"It wasn't something that we rushed into, it was something that I've been thinking about for years and felt like to get the best operation I could get out of our new instant racing initiative, I needed to get somebody that had some gaming experience as well as running their racetrack that they have there in Saratoga," said Geary.
Geary says purchase has to be approved by the full Kentucky Horse Racing Commission later this month before it can become official.
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