Stronach Group finalizes Rosecroft purchase

by | Aug 2, 2016 | Breaking, Business, Maryland, MD Business

From a Stronach Group release

The Stronach Group announced today that its purchase of Prince George’s Gaming Ventures, LLC, the holding company of Rosecroft Raceway in Maryland, from Penn National Gaming Inc., has been officially completed.

The Stronach Group owns the Maryland Jockey Club, which operates Laurel Park and Pimlico Race Course, home of the Preakness Stakes, as well as pari-mutuel facilities Gulfstream Park, Santa Anita Park, Portland Meadows and Golden Gate Fields.

Sal Sinatra, President and General Manager of the Maryland Jockey Club, said The Stronach Group will begin making improvements to Rosecroft over the next 90 days. Rosecroft, which opened in 1949, begins its fall season of harness racing Sept. 13. The facility is open every day for simulcasting.

“We appreciate Penn National Gaming working with us to make this acquisition happen in a smooth and timely manner,” Sinatra said. “We’re excited about moving forward at Rosecroft. We look forward to expanding our simulcast network, having a presence in the Washington D.C. market, and growing the harness racing market in the mid-Atlantic.”