12/20/2006 12:00AM

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Harrah's Entertainment - the owner of Louisiana Downs and a part-owner of Turfway Park in Kentucky - accepted a buyout offer on Tuesday from Apollo Managament Group and Texas Pacific Group valued at $17.1 billion. Officials of Apollo and Texas Pacific, two private-equity companies, said they have no immediate plans to divest any Harrah's holdings. . . . Don Kubovchik, the executive director of the Indiana Horsemen's Benevolent and Protective Association, died Wednesday morning in Louisville, Ky., at age 72 of complications of cancer, according to a release from the National HBPA. A memorial service has been scheduled for Jan. 9 at O.D. White Funeral Home in Louisville. . . . Frankie Pennington, 19, set a single-season record at Philadelphia Park when he rode L M Blazer for the jockey's 256th victory of 2006. The previous record of 255 had been shared by Robert Colton and Gwen Jocson.