Plainridge Racecourse in Plainville announced a business arrangement Tuesday that track officials hope will revive its bid for a slot parlor license.
Under the agreement between Plainridge and Penn National Gaming, a subsidiary of Penn National has secured an option to buy the property and assets of the racecourse, and if Penn National secures the state’s sole slots license, it can acquire the facility from Ourway Realty LLC.
Alfred Ross, a major shareholder in the Plainridge ownership group, said in a statement, “This agreement represents an opportunity for harness racing to survive in Massachusetts. I am happy that prospect remains alive and am hopeful town voters will come out to vote ‘yes’ on Sept. 10 to help save the hundreds of jobs Plainridge currently supports, and the millions in new annual revenues to the town should the track receive a slots license.”
Penn National was recently rebuffed in its attempt to secure the slots parlor license for a site in Tewksbury. That left proposals in only three communities – Leominster, Millbury and Raynham – to contend for the one license. Voters in Leominster and Millbury will cast ballots Sept. 24 in referenda that will decide whether the proposals in those communities can go forward. Developers who secure those approvals must then submit final plans to the state gaming commission by Oct. 4. The commission has said it will award the slots license by the end of the year.
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