AUGUSTA – One minute they’re fighting, the next they might be partners.
In a bizarre twist of the Maine racino story, Steven Snyder, vice president of Penn National Gaming Inc., told lawmakers Wednesday night his firm is “in negotiations” to buy Shawn Scott’s Capital Seven, which owns Bangor Historic Track, which could be the only track in Maine with lucrative slot machines.
Neither Scott nor Snyder would confirm rumors that Scott has agreed to sell to Penn National, saying an announcement would be made Thursday morning.
Snyder did tell lawmakers if the announcement goes forth Thursday, Penn National will be at the Harness Racing Commission Thursday morning as Capital Seven’s “successor” and owner of the track.
Snyder said Penn National is interested in buying “because it’s an economic opportunity. It’s very attractive.”
Scarborough Downs was seeking permission from either Westbrook or Saco to allow the track to move there so it could have 1,500 slot machines, since Scarborough voters rejected that proposal.
Penn National, a large gambling company, was working with Scarborough Downs to help convince voters to say yes by Dec. 31, which under the Nov. 4 referendum would allow Scarborough to have slots.
Understanding that the fewer slots in Maine could mean bigger profits, Capital Seven formed a political action committee that attacked the reputation of Penn National in an effort to convince Westbrook and Saco voters to vote against slots in their communities.
Rep. Patricia Blanchette, D-Bangor, spoke next.
“As of 4:30 this afternoon what is your affiliation with Capital Seven?” she asked.
“We have been in negotiations for Capital Seven for a number of weeks,” Snyder said. “We hope to issue a public announcement in the morning relating to a transaction surrounding Bangor Historic Racetrack.”
“So, who will be at the Harness Racing Commission meeting tomorrow (Thursday) applying for a harness racing license for Bangor Raceway?” she asked.
Capital Seven will be there, Snyder said, adding that if an announcement is made “we will be there as a successor to Capital Seven as the owner of Bangor Historic Track.”
bwashuk@sunjournal.com
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