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Blow Horn Equity LLC has announced that they have submitted a fully funded proposal to purchase the Maryland Jockey Club from Magna Entertainment Corporation.
Blow Horn has committed to investing over $500 million in the racetrack and casino if they are awarded the Video Lottery Terminal license and zoning for Laurel Park.
The proposal outlines the opening of a temporary facility with 2,375 slot like machines within six months and a “World Class” casino to be opened at the beginning of year 3.
They have also suggested that the proposed development would be able to generate approximately $350 million in the first two years and over $500 million annually for Maryland, the horse purses and the horse breeding programs once the main gaming facility is open.
“The VLT Legislation was passed to save Thoroughbred Horse Racing in Maryland, and to restore it to the major league status that it previously rightfully enjoyed. We propose to create technically and strategically innovative and integrated entertainment venue(s) with world-class racing, entertainment and superior dining experiences,” said Founder and CEO of Blow Horn, Jeff Seder.
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