Hawthorne Race Course Files For Chapter 11 In Illinois [Yahoo! Finance]
Penn National Gaming, Inc. (PENN)
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Source: Yahoo! Finance
hopes of building a $400 million racino in the south Chicago suburbs of Stickney, filed for a Chapter 11 reorganization in federal Bankruptcy Court in Chicago on Friday. In the filing , Hawthorne Race Course lists estimated assets between $50 million and $100 million, estimated liabilities between $100 million and $500 million, and an estimated number of creditors between 200 and 999. “This is a difficult day for Hawthorne and for my family, which has owned Hawthorne for four generations over 117 years, but filing for reorganization is the right thing to do for the Illinois horsemen and for our employees and their families,” said Tim Carey, president and CEO of Hawthorne Race Course, in a statement. Hawthorne Race Course was granted “preliminary suitable” status by the Illinois Gaming Board in July 2020 to build the racino and had begun construction work at the venue that included clearing out the first-floor area. But little progress had been made since that point, as Carey tri
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PENN
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PENN
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- 3/3/26 - Form 4
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