The Cordish Companies were delivered a Christmas gift on December 22 when Anne Arundel County Executive John R. Leopold signed Bill 82-08, granting Cordish’s zoning request to allow his Arundel Mills casino site to move forward.
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Meanwhile, horsemen and pundits eagerly (some nervously) awaiting the January 8 Magna bankruptcy auction for Laurel Park, Pimilco Racecourse and the Bowie Training Center will have to once again put their expectations in park, as yesterday Magna requested that the court delay the auction – ostensibly so that Magna could reach a preliminary private deal with one of the potential bidders of the property. Privately, however, horsemen are wondering if the delay is so that Magna can have enough time to gin up enough signatures of Arundel Mill residents to nullify the Cordish zoning exemption.
In the midst of all of this, according to various news reports, the bankruptcy judge overseeing the Magna case has declared that the deal Joe De Francis made with Magna (when the international company purchased the tracks from the De Francis family) for a piece of any slots action can not be transferred to a new owner. Unless De Francis purchases the tracks himself, he will not gain in the future from any future slots at the tracks. Some consider that this makes the tracks even more attractive to any potential buyers.
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