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Blue Ribbon Downs’ racino about to be sold

CLIFTON ADCOCK - Tulsa World Published: June 12, 2009
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"It’s outside our boundaries, and we need to focus on the businesses that are successful within our nation’s boundaries.”

The Choctaw Nation bought the track in 2003 for $4.25 million, just a day before it was to be sold in a sheriff’s auction.

The track’s former owner, Race Horses Inc., filed for bankruptcy in 1997.

The Sallisaw Municipal Authority began foreclosure proceedings on the track after the company missed payments on a $2.5 million loan made by the city in 1995.

The Cherokee Nation’s tribal council had passed a resolution that would authorize the purchase of the track at the auction, but the Choctaw Nation bought the track before then, and it paid the track’s debt to the city.



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