Magna Entertainment applies for VLT license in Maryland
Magna Entertainment Corp. announced that it has applied, through its wholly-owned subsidiary Laurel Racing Assoc. Inc., to the Maryland VLT Facility Location Commission for a Video Lottery Operation License to operate 4,750 VLTs at Laurel Park in Anne Arundel County.
While MEC has submitted an application, Laurel Racing did not pay the specified license fee of $28.5 million at this time. MEC hopes to be able to work with its partners, the commission and Anne Arundel County in the very near future to achieve a successful licensing of Laurel Racing and the construction of the Laurel VLT facility.
Frank Stronach, chairman and CEO of MEC, stated: "We are excited to pursue a VLT License for Laurel Racing and we believe that locating the video lottery facility at Laurel Park will help preserve Maryland's thoroughbred industry, including Laurel Park, Pimlico and the Preakness Stakes."