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Penn National Makes $11M Purchase Of Md. Racetrack

FORT WASHINGTON, Md. (AP) -- Penn National Gaming Inc. has completed its acquisition of Rosecroft Raceway, which will allow the Prince George's County racetrack to emerge from bankruptcy.

A bankruptcy judge approved Penn National's $11 million bid for the track last month. The transaction was finalized Monday, but another bidder that lost the race track in an auction has filed a motion to have the process reconsidered.

Landow Partners LLC contests the auction results and has attempted to block the deal

A hearing will be held March 22 on Landow's efforts to submit a higher bid.

Penn National is based in Wyomissing, Penn.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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