Centaur Says Revenue Sharing Crucial to Rosecroft Deal.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Oct. 27, 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. Rosecroft, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (Centaur) today filed a petition with the Maryland Racing Commission asking for resolution of the issue of revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. in its purchase of Rosecroft Raceway in Ft. Washington, Maryland. Centaur has asked the Commission for a ruling clarifying that its proposed "competitive" simulcast marketplace is in the best interests of Maryland horse racing. Centaur believes its proposal will raise additional funds for horsemen's purses and development of Maryland racing generally. Centaur signed an exclusive contract with Cloverleaf Enterprises, Inc. (CEI CEI Competitive Enterprise Institute CEI Conferenza Episcopale Italiana (Italian bishop conference) CEI Central European Initiative CEI Comitato Elettrotecnico Italiano (Italian Electrotechnical Committee) ), which owns Rosecroft Raceway, to purchase the racetrack last January. Centaur also has an agreement with the Cloverleaf Standardbred Standardbred Breed of light horse developed in the U.S., primarily for harness racing. The foundation sire was an English Thoroughbred imported in 1788; his progeny were bred with other breeds, especially the Morgan, to produce speedy trotters and pacers. Owners Association, Inc. (CSOA CSOA combined special operations area (US DoD) CSOA Cloverleaf Standardbred Owners Association ), the non-profit group that represents horsemen at the track regarding purses to be paid at the track. In its previous filings with the Maryland Racing Commission, Centaur stated that in its purchase of CEI's assets it would not assume the existing revenue sharing agreement between CEI and the Maryland Jockey Club, which owns other Maryland tracks. In a September filing with the Maryland Racing Commission, Centaur specifically proposed a competitive, free-market, simulcast wagering structure. In asking for a declaratory judgment from the Commission, Centaur stressed that the status of the revenue sharing agreement is a crucial element in determining Rosecroft's future financial success. Centaur has also filed an action with the Marion County, Indiana Marion County is a county located in the U.S. state of Indiana. As of 2000, the population was 860,454. The estimated population in 2006 was 865,504. The county seat is Indianapolis6. Geography According to the U.S. , Circuit Court. This action seeks a determination that Centaur's most recent filing with the Maryland Racing Commission, as well as the other filings it has made in connection with its application for a racing license, operate to continue its purchase agreement with CEI in full force and effect. Rosecroft Raceway is the center of Standardbred racing in Maryland and has operated continuously since 1949. CEI purchased the track in 1995 and sought last year to find a buyer that could bring significant experience in entertainment and hospitality, as well as increased financial resources, to Rosecroft. After a thorough process, CEI chose Centaur from among several interested parties. Centaur, an indirect subsidiary of Centaur, Inc., is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. headquartered in Indiana with significant experience and seasoned leadership in racing and gaming. |
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