Centaur Ends Rosecroft Talks with Sportsystems.Business Editors FT. WASHINGTON, Md.--(BUSINESS WIRE)--June 24, 2003 Centaur centaur (sĕn`tôr), in Greek mythology, creature, half man and half horse. The centaurs were fathered by Ixion or by Centaurus, who was Ixion's son. , Inc. of Indianapolis announced today that it has ended negotiations to partner with Sportsystems Corporation in the ownership and operation of Rosecroft Raceway. Centaur and Sportsystems had announced on April 29 that they had a preliminary agreement involving financing and management of the harness racing harness racing: see horse racing. harness racing Horse-racing sport. In harness racing, Standardbred horses are harnessed to lightweight, two-wheeled, bodiless (seat-only) vehicles known as sulkies. The sport's origins date to ancient chariot races. track. "Since then, the two parties have not been able to reach a definitive agreement," Centaur CEO-Racing Jeffrey M. Smith said. "We have elected to terminate our preliminary agreement." Centaur holds the exclusive right to purchase Rosecroft from Cloverleaf Enterprises, Inc. The transaction is expected to be closed after Centaur receives a license to operate the 54-year-old harness racing track from the Maryland Racing Commission. "We are grateful to the Maryland Racing Commission and the Maryland racing industry for its patience in our acquisition of Rosecroft," Smith said. "We shall proceed expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex to secure financing with the expectation of closing this purchase as soon as possible. Our top priority remains bringing the best racing and the best entertainment experience to the patrons at Rosecroft." Centaur, Inc. is a company with significant experience in gaming and capital to assist new ventures. Its holdings include an interest in Hoosier Park Hoosier Park is a thoroughbred and standardbred racetrack located in Anderson, Indiana. History In 1992, Churchill Downs Incorporated announced plans to open a racetrack in Anderson, Indiana. , Indiana's first pari-mutuel horse racing horse racing, trials of speed involving two or more horses. It includes races among harnessed horses with one of two particular gaits, among saddled Thoroughbreds (or, less frequently, quarterhorses) on a flat track, or among saddled horses over a turf course with track. Centaur also owns the Wagon Wheel Hotel & Casino in Central City, CO. Centaur's top management includes executives with strong backgrounds in gaming management, finance and regulatory affairs Regulatory Affairs (RA), also called Government Affairs, is a profession within regulated industries, such as pharmaceuticals, medical devices, energy, and banking. Regulatory Affairs professionals usually have responsibility for the following general areas: |
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