Two racetracks in Arizona are under contract to sell to different entities, according to a report by Axios Phoenix published on April 12. Axios indicated that Turf Paradise is under contract and still in negotiations with CT Realty, while Arizona Downs is under contract with The Stronach Group. Neither sale is final.
CT Realty could continue to hold race meets at Turf Paradise after the sale, but Arizona Horsemen's Benevolent and Protective executive director Leroy Gessman told Axios the track property will ultimately be developed. Gessman believes Turf may have one or two racing seasons left.
James Watson is the managing partner of CT Realty and has made his career in commercial real estate and development. He served four years as a commissioner on the California Horse Racing Board.
Arizona Downs is expected to continue racing, though it did not apply to the racing commission for dates this season because “it doesn't have the finances to hold a summer season” co-owner Tom Auther told Axios.
Read more at Axios Phoenix
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