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New owners moving, adding video slots to Lebanon Raceway

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LEBANON, Ohio - Two companies have announced plans to purchase Lebanon Raceway in southwest Ohio and develop up to 2,500 video slot machines and a harness racetrack.

The $60 million deal includes the creation of a new company, Miami Valley Gaming & Racing, to manage the development and operation of the facility.

The proposal was announced Thursday by Buffalo, N.Y.-based Delaware North Companies Gaming & Entertainment and Louisville, Ky.-based Churchill Downs Incorporated.

Delaware North president William Bissett says the facility will create hundreds of jobs and millions of dollars in economic impact.

The purchase of Lebanon Raceway is contingent on approval by the Ohio Lottery Commission and the Ohio State Racing Commission.

Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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