PENNWOOD PURCHASES ATLANTIC CITY RACE COURSE

August 17, 2001 8:25 PM
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The Atlantic City Race Course was sold for $13 million to the Pennwood racing consortium.

The New Jersey Racing Commission approved the purchase, which includes more than 400 acres near the track. The closing is scheduled for Sept. 20.

Pennwood also owns Freehold Raceway, a harness track in Monmouth County and had leased Garden State Park in Cherry Hill, N.J., until it was sold in December. The consortium is made up of Penn National Gaming and Greenwood Racing, each based in Pennsylvania.