Penn National Wins Rosecroft in Auction

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    NEWSLETTERS

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    Penn National Gaming Inc. has submitted the winning bid for Rosecroft Raceway, according to an attorney involved in the auction.

    Michael Lichtenstein, a Potomac lawyer whose office handled the auction, said Friday the bid is for $10.2 million. He said the company would submit another $3 million, if it gets a bond from the state.

    Penn National edged out Baltimore Orioles owner Peter Angelos in the auction for the Prince George's County track. Lichtenstein said a third party also bid, but he declined to mention who it was.

    Rosecroft filed for bankruptcy in June 2009.