05/09/2016 2:16PM

Hubbard buys out partners in Ruidoso Downs

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R.D. Hubbard is now the sole owner of Ruidoso Downs in New Mexico after buying out the interests of Ed Allred and Bruce Rimbo, the track announced Monday. Hubbard had owned 72 percent of Ruidoso Downs, which he first bought into in 1988.

Ruidoso is the home of the prestigious All American Futurity for Quarter Horses.

Hubbard’s grandson, Shaun Hubbard, has been the general manager of Ruidoso since 2012 and will now also take on the role of track president. Ruidoso opens its mixed meet for Quarter Horses and Thoroughbreds on May 27.

“I’m very proud of the job that Shaun has done over the past five years as general manager,” R.D. Hubbard said in a release. “He will be an excellent president and an important part in the future of Ruidoso Downs.”

R.D. Hubbard was instrumental in the passage of legislation allowing casinos at tracks in New Mexico. Since the casino at Ruidoso opened in 1999, purses have grown, with the All American now worth $3 million. It is run each Labor Day. It had been worth $2 million in 1988, according to the release from Ruidoso.