Raceway Park up for sale - News, Weather, Sports, Toledo, OH

Raceway Park up for sale

TOLEDO, OH (Toledo News Now) -

The ‘for sale' signs will be going up this week at Raceway Park, where the final live races were held on Sunday.

General Manager Mark Loewe says the facility will still be open six days a week until sometime next year for off-track betting.

"Simulcasting is a big part of our business; we're going to continue doing that," he said. "We're going to continue to run a professional operation."

The property is now being marketed nationally, with an asking price of $3 million for the 97-acre site.

"Raceway is not what it once was in the heyday, although it is sad to see it go. Remember, there are about 110 jobs there at that site," said Councilwoman Lindsay Webb.

Webb believes because there should be few environmental hurdles to clear for redevelopment, there's potential for that land to be home to a major new employer.

"Its proximity to the Jeep plant lends itself, in my opinion, to use as an industrial, light-industrial facility," she said. "Ultimately, the market will dictate that."

In the meantime, Penn National is promising Raceway Park will not become an eyesore.

"We'd like to move the property, there's no question about it. Until that time, we'll maintain it. We have assets to maintain. We're not going to leave the property in disarray," said Loewe.

The company will need to keep about 30 employees on board until the facility is closed. Penn National will shift harness racing operations to a new track under construction in Dayton.    

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Copyright 2013 Toledo News Now. All rights reserved.

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