Gary Hartunian, the Southern California horse owner and real estate developer, has signed a two-year lease for the operation of Turf Paradise in Phoenix, according to an official involved in the process.
Tom Ludt, a seasoned racetrack executive who Hartunian has tabbed to run the track, said on Wednesday that the deal was signed last week. The group does not expect to take over formal operation of the track until late this year, after the licensing process is completed. In Arizona, licensing generally takes 90 days or more.