Summary
Columbus horse track files federal breach of contract suit against Penn National.
Analysis
Buried in the article is a statement from the owner of the Columbus area horse track indicating that their contract with Penn National prevents them from incurring any more debt, possibly preventing them from paying the hefty VLT license fees.
Five of the seven Ohio horsetracks missed the deadlines to make the first payments due to the state. However, every track has so far indicated that they plan to make the payments within 14 days.
This federal lawsuit makes the fourth lawsuit that has been filed concerning Governor Strickland's proposal, now law, to place up to 17,500 slot machines at Ohio racetracks.
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Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
