After Failed Casino Bid, Racetrack Owner Closes Facility
Two days after it lost its bid to host casino gaming, the Guam Greyhound Racetrack shut down operations and the property is for sale, the Pacific Daily News reports.
The racetrack in Tamuning has been an island fixture for 32 years. But owner John Baldwin, who was behind the initiative to open a gaming facility at the track, earlier this week said it had been losing USD 100,000 a month for some time. Guam voters on Tuesday rejected the casino gaming initiative.
„The business has been hurting for a long time. … Now we need to just stop the bleeding and work on a new plan,” said E.J. Calvo, Guam managing director for Bridge Capital LLC, which owns the dog track and other Guam property.
Baldwin yesterday announced that the racetrack facility, including land, is on the market for USD 15.9 million. Baldwin said he would consider joint venture proposals to reopen the track or develop a new business on the property.