Sad news, as Yavapai Downs racetrack in Prescott Valley files for bankruptcy protection.
PRESCOTT, Ariz. — The owner of the Yavapai Downs horse racing track in Prescott Valley has filed for bankruptcy protection.The filing under Chapter 7 of the U.S. Bankruptcy Code could lead to a liquidation of the track’s assets. The Yavapai County Farm & Agriculture Association’s largest creditor is the U.S. government. The Prescott Daily Courier says the government holds a note for about $14.5 million on the racetrack. The Yavapai County Assessor’s Office recently valued the track, grandstands and associated facilities at only $5.4 million.
Posted on July 15, 2011