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Racino gets more time to hold license
By MARY GRZEBIENIAK
NEW CASTLE, Pa.
The Pennsylvania Harness Racing Commission will not revoke Valley View Downs’ harness-racing license — at least not yet.
On Friday, the commission instead gave the proposed development off U.S. Route 422 here time to see if a bankruptcy auction draws any bidders. The license then could be transferred to the new owner.
Valley View Downs and its parent company, Centaur LLC of Indianopolis, are in bankruptcy reorganization and faced revocation of Valley View Downs’ harness-racing license Sept. 5 because the track is not yet up and running.
But at a special meeting Friday in Harrisburg, the commission excused Valley View Downs from meeting that deadline and allowed additional time to see whether a bankruptcy-court auction of the property draws any bidders.
The commission placed several conditions on the delay: By 4 p.m. Oct. 5, Valley View Downs will notify the commission on whether it has received at least one written bid on the property; if there is a successful bidder, that bidder must file a preliminary application for the harness-racing license by 4 p.m. Dec. 31; and the successful bidder must meet with the commission as soon as possible after that filing to discuss transfer of the harness-racing license. Failure to meet any of these conditions would result in revocation of the license, in which case the commission could award it to another project.
The commission’s decision came by a 1-0 vote cast by Chairman Roy Wilt. One seat on the three-person commission is vacant, and the third is held by Richard Welsh, who recused himself because he works for Wells Fargo, which is a plaintiff in the bankruptcy case.
Lawrence County Commissioner Daniel Vogler, who attended the meeting, explained that the motion to impose the above conditions was cast by Deputy Secretary of Agriculture Michael Pechart, who by law can make a motion but cannot vote for adoption. The commission’s attorney, Jorge Augusto, stated after the meeting that his research indicated the 1-0 motion is sufficient, Vogler said.
Centaur Executive Vice President and CFO Kurt Wilson said the commission’s action and the Delaware Bankruptcy Court ruling allowing auction of Valley View Downs “are positive steps toward the most-expeditious launch of Valley View Downs in Lawrence County.”
An auction of the property is scheduled for Oct. 20. Bids are due Oct. 4.
The project, which would bring thousands of jobs and millions in tax revenue to the area if it is located at the Mahoning Township site, has been stalled for two years after the original lenders pulled out.