05/22/2002 11:00PM

Louisiana Downs group changes


The makeup of the ownership group that is in the process of purchasing Louisiana Downs in Bossier City, La., has changed, but there is still a good chance the group could take over the track before the meet starts June 28.

The project is still headed by Jim Davis, a Shreveport attorney, but Winston Capital Group of Dallas is no longer a partner, said Ray Tromba, general manager of the track. The entire ownership will now be made up of investors based in northern Louisiana.

Davis plans $175 million in renovations when he takes over Louisiana Downs, which was granted a license to operate slot machines in March 2001.

The old and incoming ownership of Louisiana Downs agreed to increase purses 40 percent to $200,000 a day for the summer meet that runs from June 28 to Sept. 22. During that time, purses are expected to be overpaid by more than $2.5 million. Tromba said the overpayment will be made up after slots are operational, which will happen in the late summer or early fall of 2003.

"Based on projections, we ought to make up the overpayment to purses in a month and a half," said Tromba.