Turf Paradise Race Track

Pinnacle Entertainment Inc. said it has agreed to sell its Turf Paradise racing track, including its horse-racing operations and 275 acres in Phoenix, for $53 million in cash to private investor Jerry Simms. Glendale-based Pinnacle, which was formerly known as Hollywood Park Inc., in 1999 sold its Hollywood Park horse-racing track in Inglewood to Churchill Downs, host of the Kentucky Derby. Pinnacle also is in the process of selling its two Mississippi casinos, Casino Magic Bay St.

Pinnacle Entertainment Inc. said it has agreed to sell its Turf Paradise racing track, including its horse-racing operations and 275 acres in Phoenix, for $53 million in cash to private investor Jerry Simms. Glendale-based Pinnacle, which was formerly known as Hollywood Park Inc., in 1999 sold its Hollywood Park horse-racing track in Inglewood to Churchill Downs, host of the Kentucky Derby. Pinnacle also is in the process of selling its two Mississippi casinos, Casino Magic Bay St.

Hollywood Park announced Thursday that it has completed the acquisition of Turf Paradise, a thoroughbred racing facility in Phoenix. Hollywood Park announced in February that it had signed a letter of intent to buy Turf Paradise in an all-stock transaction. Under the terms of the deal, Hollywood Park paid Turf Paradise shareholders about 1,498,000 shares of Hollywood Park common stock valued at about $33.8 million.

Hollywood Park announced Thursday that it has completed the acquisition of Turf Paradise, a thoroughbred racing facility in Phoenix. Hollywood Park announced in February that it had signed a letter of intent to buy Turf Paradise in an all-stock transaction. Under the terms of the deal, Hollywood Park paid Turf Paradise shareholders about 1,498,000 shares of Hollywood Park common stock valued at about $33.8 million.