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February 12, 2014
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FOR IMMEDIATE RELEASE: February 13, 2014 |
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Location: Cadillace Place, 3062 W. Grand Blvd, L-700, Detroit
Contact: Gary Paolella (313) 456-4178
Mount Pleasant Meadows Voluntarily Surrenders Race Meeting License
In a letter from Robert Berryhill, President of Oil Capital Race Venture, Inc., d/b/a Mt. Pleasant Meadows, (MPM), to the Michigan Gaming Control Board (MGCB) received on February 12, 2014, MPM requested to voluntarily surrender their 2014 Race Meeting and Simulcast Permit. This action was prompted after MPM’s Lender Group discontinued funding for simulcast operations.
Oil Capital Race Venture, Inc. will maintain their Track License for the time being with the hope of securing new funding in the future and allow them to resume live racing and simulcasting. Additionally, the simulcast purse pool monies apportioned for the surrendered Race Meeting License will be placed into escrow, and shall remain in escrow until further notice.
The Executive Director accepted the surrender and stands ready to assist MPM if lender support becomes available.