02/25/2004 12:00AM

Woodbine puts Hastings up for sale


Woodbine Entertainment Group has decided to sell its West Coast subsidiary, Hastings Entertainment Inc. Woodbine, based in Ontario, formed the subsidiary to operate Hastings racetrack in May 2002. The track's purchase price was $6.2 million, basically the debt that the previous operators, the Pacific Racing Association, owed the provincial government.

Woodbine has become increasingly frustrated in its efforts to open teletheater wagering outlets in nearby communities and in its attempts to add slot machines at Hastings.

"It has become apparent," said David Willmot, chairman and CEO of Woodbine Entertainment, "that we will not be able to operate and develop Hastings Racecourse to the standards originally anticipated. . . ."