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Churchill Downs Pushes for Auction

LOUISIANA – As reported by the Thoroughbred Times: "While Fair Grounds continues talks with possible partners to help the track pay off a $25-millon settlement reached with Louisiana horsemen on August 6, Churchill Downs Inc. has pressed for a scheduled auction of the embattled track in bankruptcy court.

"Churchill Downs Inc. is reportedly one of the parties the track is negotiating with for a partnership and it claimed in an objection filed in federal bankruptcy court on Monday that an auction would be in the best interest of the New Orleans track, which 'should not be allowed to risk losing Churchill Downs's and others' bids without so much as a hearing,' the Louisville Courier-Journal reports.

"Under Fair Grounds's reorganization plan, Churchill Downs Inc. would be the first bidder in an auction at $45-million. An attorney for Fair Grounds has been adamant that there will be no auction…"

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