The owners of Arizona Downs have secured an investor who will provide additional financing to the racetrack in order to resume the live Thoroughbred and Quarter Horse racing season on July 20, and continue through Labor Day weekend.
“The investment group loves horse racing, and understands how important a year-round circuit is for the industry,” said Arizona Downs Owner and Partner Tom Auther. “They will be incredible business partners.”
Arizona Downs had suspended live racing on June 21 “due to ongoing issues in the battle for fair and equal access to out-of-state racing signals for its Off Track Betting system.”
The new financing enables Arizona Downs to fund purses distributed to horsemen for the remainder of the 2019 summer meet, and frees up capital to expand its Off Track Betting (OTB) network to fund purses for the 2020 summer racing season. Arizona Downs' owners are proactively seeking new restaurants and bars to add to their OTB system, which currently consists of six partners located in metro Phoenix, Flagstaff, Lake Havasu, and Pinetop-Lakeside.
“We're thankful to have a new investor who shares our confidence about the potential of year-round horse racing,” said Auther. “We're already having conversations with several potential OTB partners.”
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