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Bay Meadows Buys Hollywood Park
Meanwhile ownership of Hollywood Park "transferred from Churchill Downs to Bay Meadows Land Company when the 2 companies closed a US$257.5 million deal for the California racetrack that includes undeveloped land," reported thoroughbredtimes.com. Churchill had purchased Hollywood Park in September 1999 for US$140 million. Racing will continue at Hollywood Park for at least 3 years while Bay Meadows Land "pursues expanded gambling; Churchill has an option to reinvest in Hollywood if gambling does expand at California racetracks".