Harrah’s has back-out option in Ohio track buy

COLUMBUS (AP) — A state Supreme Court decision that allows a vote on a slots proposal could derail plans by Harrah’s Operating Co. to purchase a horse track in northeast Ohio.

The company agreed last week to buy Magna Entertainment Corp.’s Thistledown track for $89.5 million, but is permitted to back out of the deal if the slots plan is put on hold for a vote.

The Supreme Court earlier this week said the governor’s budget plan to allow video slot machines at Ohio’s seven horse tracks is subject to approval by voters.

Harrah’s spokesman Gary Thompson says it’s premature to say whether the company would back out of the deal.

The state says the governor can use his executive power to authorize slots without a vote. The plan is expected to generate $933 million to balance Ohio’s current two-year budget.