Oklahoma Tribe Approved To Buy Lone Star Park
ADA, Okla. (AP) - A subsidiary of the Ada-based Chickasaw Nation is about to take ownership of a Dallas-area horse racing track.
Global Gaming Solutions representatives on Monday will finalize documents to officially transfer the ownership of Lone Star Park in Grand Prairie, Texas, to Global Gaming LSP, a tribal subsidiary.
The Texas Racing Commission on Friday approved the transfer of ownership, Racing Partners of Texas, led by Ricky Knox, will have a 51 percent interest in the track while Global Gaming Solutions will have a 49 percent interest.
Global Gaming is paying $47.8 million for the track, which Magna Entertainment Corp. is selling through bankruptcy proceedings.
Another Chickasaw Nation subsidiary already owns Remington Park in Oklahoma City, which also was bought from Magna Entertainment. The tribal subsidiary paid $80.25 million for Remington Park.
(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)