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EQUINE
- February 1999 Keeneland Teams Up to Purchase Turfway Park Keeneland Association, Inc. announced in mid-January that a tentative agreement has been reached with Turfway Park to purchase all of its racetrack-related assets for $37 million. The agreement is subject to financing, due diligence provisions and approval of the Kentucky Racing Commission. Keeneland will manage the facility on behalf of Turfway Park LLC, a newly-formed company whose membership interests are equally controlled by Keeneland; Dreamport Inc., a wholly-owned subsidiary of GTECH Corporation, the online games vendor for the Kentucky Lottery since it began in 1989 and Dusty Corporation, a wholly-owned subsidiary of Harrah's Entertainment, Inc., one of the most recognized names in the casino entertainment industry. The tentative deal is expected to close by the end of March. Located on approximately 200 acres in Florence, Kentucky, near the greater Cincinnati/Northern Kentucky International Airport, Turfway Park conducts approximately 105 days of thoroughbred racing annually and is open throughout the year for simulcast wagering. It has been owned and operated for the past 13 years by an investor group led by Jerry Carroll. Carroll will not have a relationship with the new management group. In making the announcement, William Greely, president and CEO of the Keeneland Association, said, "What we are announcing today is very much about the future of racing in Kentucky. Keeneland exists to strengthen and promote thoroughbred racing in our state. For that to be accomplished, we must maintain a strong racing circuit. Jerry Carroll and Mark Simendinger have ably managed Turfway Park for the past 13 years. We have appreciated the spirit and vitality they have brought to this operation and our industry. "Their contribution has been significant. Since purchasing the track in April 1986, Jerry Carroll has developed Turfway Park into national prominence as site of the Gallery Furniture.com stakes (formerly the Jim Beam stakes) in March and the Kentucky Cup Day of Champions in September. As the current management moves on to pursue other interests, we felt it imperative that Turfway continue as a vital link in Kentucky's racing circuit." Greely further commented that the combination of Keeneland, Harrah's Entertainment and Dreamport brings together the respective leaders of the racing industry, commercial gaming and public gaming. "For thoroughbred racing to continue to grow and prosper, it must make use of the significant marketing and technological innovations that have been successful in the broader gaming and entertainment market," said Greely. It is intended that Turfway Park will operate with a management that includes most of its current personnel. It is not envisioned that there would be any significant changes in the operations personnel.
Cox-Owens Honored as Manager of the Year Jeanne Cox-Owens was honored as the farm manager of the year on December 11th by the Kentucky Thoroughbred Farm Manager's Club (KTFMC). The award was given during the KTFMC's annual dinner held at the Hyatt Regency Ballroom in Lexington. Cox-Owens has been the farm manager of Lexington-based Cobra Farm since Betty and Gary Biszantz purchased the thoroughbred nursery three years ago from Due Process Stables. She has been a member of the KTFMC since 1987 and has served as secretary/treasurer of the club. Currently, Cox-Owens is vice-president of the Central Kentucky Riding for the Handicapped Association. Cox-Owens has been instrumental in raising the following top-class thoroughbreds: Open Mind, champion two and three-year-old filly; Dehere, champion two-year-old colt; the graded stakes winner Strategic Maneuver and Old Trieste, a multiple graded stakes winner and earner of over $500,000. The Kentucky Thoroughbred Farm Manager's Club also honored Ted Bates, Lars La Cour and B.G. Hughes with lifetime membership awards.
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