PITTSBURGH, Nov. 9 (UPI) -- Two U.S. companies have agreed to share the $225 million cost of buying a horse racing track in western Pennsylvania.
Millennium Gaming Inc. of Lakewood, Colo., and Oaktree Capital Management LLC of Los Angeles will buy the track from Toronto-based Magna Entertainment Corp. -- provided the track gains a state slot machine license.
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Pennsylvania's gambling regulators are not expected to issue a license until late June, American City Business Journals reported Wednesday. Even after the license is issued, the track would not have a casino housing the slots open to the public for more than a year later.