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Sale of Rosecroft Raceway to Stronach is finalized

Stronach Group said Tuesday that it completed its purchase of Rosecroft Raceway from Penn National Gaming.

Stronach said it would begin making improvements over the next 90 days to the Prince George's County harness track, which opened in 1949.

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Rosecroft, which is open every day for simulcasting, begins its fall season on Sept. 13.

With the purchase, Stronach adds to a collection of Maryland tracks that includes Pimlico Race Course and Laurel Park.

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'We appreciate Penn National Gaming working with us to make this acquisition happen in a smooth and timely manner," said Sal Sinatra, general manager for the Maryland tracks. "We're excited about moving forward at Rosecroft. We look forward to expanding our simulcast network, having a presence in the Washington D.C. market, and growing the harness racing market in the mid-Atlantic."

The sale was approved by the Maryland Racing Commission last month.

Penn National bought the track for $10.25 million at a bankruptcy auction in 2011. Terms of this deal were not disclosed.

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