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Charles Town Races sale complete

April 01, 2000

WYOMISSING, Pa. (AP) - Penn National Gaming Inc. has purchased the remaining minority interest in West Virginia's Charles Town Races for $6 million.

Penn National bought the 11 percent interest from BDC Group, its joint venture partner in West Virginia, on March 15, the company announced Thursday.

The Charles Town Races, now a fully-owned subsidiary of Penn National, is a thoroughbred racetrack in Jefferson County with 1,500 slot machines. The company reported $15.8 million in earnings in 1999.

Penn National owns Penn National Race Course and Pocono Downs Racetrack, as well as 10 off-track wagering facilities in Pennsylvania.

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