Balmoral/Maywood auction extended to Dec. 28
December 16, 2015
« Return to News
The Illinois Harness Horsemen's Association has posted on its website an update regarding the auction that was conducted on Monday on Maywood Park and Balmoral Park and all of their assets. The update reads:
Bids for Maywood and Balmoral Park and all of their assets were due in their attorney's office by last Friday. Three bids were submitted, only one met the qualifying criteria. That bid was on the Balmoral property alone.
Because of that tepid response, today (Dec. 16), in bankruptcy court, attorneys for the racetracks and the riverboats motioned the court to allow them another two weeks to negotiate with the lone qualified bidder and to find more interested buyers to stimulate the bidding process. That motion was granted and the new auction date has been extended until Monday, Dec. 28.
In a separate but related incident Maywood and Balmoral Park were granted licenses by the Illinois Racing Board to operate their OTB's and their intertrack facility in 2016. (IHHA)