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Article: Yavapai Downs racetrack in Prescott Valley files for bankruptcy protection

Home » PTS Blog » Uncategorized » Article: Yavapai Downs racetrack in Prescott Valley files for bankruptcy protection

Sad news, as Yavapai Downs racetrack in Prescott Valley files for bankruptcy protection.

http://www.greenfieldreporter.com/view/story/3b80baa6ff0048b297f35ac63796ae28/AZ–Yavapai-Downs-Bankruptcy/

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.

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