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Firms looking at Batavia

June 25, 2004

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The Democrat and Chronicle of Rochester, N.Y., is reporting that three private investment firms have expressed interest in reopening Batavia Downs and adding the video gaming machines now allowed in the state.

The track is currently owned by Western Regional Off-Track Betting, which bought the facility in 1998 when it was near bankruptcy. With mounting financial losses continuing after the track was reopened in 2002 for live racing, the company was unable to secure financing for construction of a video gaming parlor, which led to the announcement last month that it was once again closing.

Western OTB president told the Democrat and Chronicle that he was "relatively optimistic that one of these deals would work," but that it was also highly unlikely that in any case the track would not reopen before the end of the year. Terms of the agreement call for the investment firm to pay for most of the $8 million needed to install the gaming machines.
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