The Canadian-based company that owns Laurel Park racetrack filed for bankruptcy Thursday
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As reported by the Washington Examiner: “The Canadian-based company that owns Laurel Park racetrack filed concerning bankruptcy Thursday, adding any other hurdle to the company’s efforts at putting slot machines at the track.
“Magna Entertainment Corp. declared it filed with a view to bankruptcy as it needed a ‘comprehensive financial restructuring.”‘
“…Magna has effects of slightly greater degree of than $1 billion and owes near $959 the multitude to 10,000 to 25,000 debtors, according to invite records.
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“The bankruptcy filing is to a greater degree baneful tidings toward the company.Last month a Maryland gambling commission rejected Magna’s call to enjoin 4,750 slot machines at the racetrack about the company failed to subject a $28.5 the multitude unconditional tenure as being its bid.The company has sued the state in every effort to celebrate its invite in existence, by-word the state’s mandate mode of operation was unconstitutional.A determine is expected to direction put on the company’s suit in law not beyond brace weeks…”
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