Blank Rome Represents The Stronach Group in Acquisition of Rosecroft Raceway
Led by Martin Jacobs, Blank Rome’s Gaming Industry Group represented a subsidiary of The Stronach Group in its acquisition of Rosecroft Raceway in Maryland, from Penn National Gaming, Inc. Terms of the deal were not disclosed.
Opened in 1949, Rosecroft is a standardbred racetrack which also serves as an off-track betting facility. The Stronach Group now owns the predominant pari-mutuel facilities in Maryland: Pimlico Race Course (home of the Preakness Stakes), Laurel Park, and Rosecroft Raceway. Stronach Group also owns Gulfstream Park, Santa Anita Park, Portland Meadows, and Golden Gate Fields.
Martin Jacobs has been involved in the racing and wagering business for more than 35 years, and formerly served as EVP, General Counsel, and a co-owner of Pimlico Race Course and Laurel Park. Other integral members of the acquisition team included Michael Medveckus, Pelayo Coll, and Margaret Anne Hill.