LHT To Sell Interest In Downs
(UNDATED) - The company which led the push for a second Indiana horse-racing track has sold its interest in the track.
LHT Capital, owned by Lawrence developers The Estridge Group, will sell its one-third interest in Indiana Downs to majority owners Oliver Racing of South Bend.
Estridge Group campaigned for years for a track in Lawrence before winning approval for the Shelby County track. Now Paul Estridge Junior says the company's ready to get out of the business.
LHT will keep just over half the 58-million-dollar purchase price. The state will get nine-million, to be earmarked for property-tax relief if possible. Another 19-million will be donated to Indiana businesses and the Central Indiana Community Foundation's legacy fund.
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