The bankruptcy judge for Rosecroft Raceway is scheduled to take up the track’s sale on Wednesday, the final step before auction winner Penn National Gaming becomes the official owner of the track.
Acording to bankruptcy law, the judge must weigh whether the deal — $10.25 million — is the best one the track’s creditors will get. The judge also must consider the best interest of the business too, meaning if it were obvious Penn National wanted to raze the track and build condos, that would be a sticking point. (Penn National has said no such thing, FYI.)
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