Vegas developer moves forward with Maine racino project

Jun 10, 2003 7:03 AM

Las Vegas gaming entrepreneur Shawn Scott, who is bidding to become the newest developer of racinos in the northeast, has won another victory. His application to own and convert Bangor Raceway in Bangor, Maine, into a racino has been approved for processing.

Eventually converting the harness racing track at Bass Park in Bangor is still a long way from reality, however. First, Scott will have to be approved by state regulators for a license. Then, after hopefully striking a deal with city administrators for a development deal, he must win both a citywide referendum and a statewide ballot vote in November approving slot machines at the track.

The brouhaha last week was whether Scott had complied with Maine state requirements that he sign releases permitting the state attorney general’s office to receive investigative documents from the states of Nevada, Louisiana and New York where Scott has either held or applied for gaming licenses.

Finally, after three weeks of legal haggling, the AG’s office withdrew its petition to prevent the investigative process from going forward.

Scott’s company, Capital Seven LLC, is a 49% owner of Bangor Historic Track Inc. which has proposed spending $30 million to convert the city-owned Bass Park into an entertainment complex that would include both live harness racing and slot machines.

Meanwhile, Scott’s infusion of cash into the moribund Vernon Downs harness racing track in Vernon, N.Y., has revived the operation. Live racing continues while track officials prepare to begin building the facility that will house video lottery machines. A floor plan for the placement of machines in a pre-fabricated addition to the property is expected to be approved this week with the slots operation prepared for a Thanksgiving beginning.