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No auction for Santa Anita race track

September 7, 2009 4:32:17 PM PDT
The Santa Anita Park horse race track in Arcadia will not be auctioned off Tuesday as planned.Officials familiar with the sale of the thoroughbred track told the Pasadena Star-News that no one made an acceptable opening bid, despite heavy interest. No other details were released.

One deterring factor may be that Santa Anita is zoned solely for horse racing and cannot be developed for anything else.

The track's owner, Magna Entertainment Corp., filed for Chapter 11 bankruptcy in March. Still, the company reportedly has enough money to keep the track afloat at least until the first quarter of next year.

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