ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Thursday, April 17, 1997 TAG: 9704170082
SECTION: SPORTS PAGE: B-6 EDITION: METRO
Speedway Motorsports Inc. says it increased its offer to buy the North Carolina Motor Speedway in Rockingham by 39 percent to $71.6 million.
Speedway Motorsports said that it offer is worth 72 percent more than a bid made by Penske Motorsports.
OTB parlor approved: The Virginia Racing Commission approved Colonial Downs' proposal to open an off-track betting parlor in Brunswick County, about 40 miles from the North Carolina border.
North Carolina has neither pari-mutuel racing nor a state lottery. Its residents have crossed the state line to spend $8 million to $10 million annually on lottery tickets - about eight to 10 percent of the Virginia Lottery's revenue.
Colonial Downs, which is building the state's first pari-mutuel horse racing track in New Kent County, will build the $900,000 betting parlor.
LENGTH: Short : 26 lines KEYWORDS: AUTO RACINGby CNB