11/16/2010 4:00PM

Potential buyer temporarily withdraws license application


GRAND PRAIRIE, Texas – Global Gaming, which holds the rights to buy the operating assets of Lone Star Park from MI Developments, withdrew its application to purchase the track’s racing license during a Texas Racing Commission meeting on Tuesday. Global officials did not give a reason for having the licensing item pulled from the agenda but indicated its intent to pursue the sale.

“They’re really not going into details on why they will submit at a later date, but they are committed to the project and to the horse racing industry in Texas,” said Kym Koch, a spokesperson for Global.

Global Gaming, a subsidiary of Chickasaw Nation, won the right to purchase Lone Star for $47 million in an October 2009 auction. Magna, the track’s owner at the time, had filed for bankruptcy in March 2009.

Global had previously purchased Remington Park in Oklahoma City from the company, for $80.25 million, and in December 2009 received Oklahoma Racing Commission licensing approvals to operate the track. The company is currently conducting a Thoroughbred meet at Remington.

“Global Gaming has assured us that they are committed to Lone Star Park, Texas racing, the horsemen who race here, and our employees,” Drew Shubeck, president of Lone Star, said in a statement.

Remington operates a casino with more than 700 electronic games. In Texas, there is no gaming at the state’s racetracks. Lone Star closed out its Quarter Horse meet on Saturday night, and is to open its Thoroughbred season in April.