Progress in Hawthorne Bankruptcy Proceedings

Hawthorne Race Course canceled its April 30 live racing program due to lack of entries but the suburban Chicago track, fighting for survival in bankruptcy court, got positive news on other fronts. After prolonged negotiations with Churchill Downs Inc., Hawthorne announced it will offer wagering on Churchill Downs races on Kentucky Oaks and Kentucky Derby days. CDI, along with many other tracks, had terminated simulcasting agreements with Hawthorne during the financial turmoil in the runup to the track's Feb. 27 Chapter 11 bankruptcy filing. Hawthorne's budget for operations, pending a sale, relies heavily on revenue from restoration of those signals and a significant portion of bankruptcy funding was used to pay off past-due balances. Churchill Downs had been a holdout until early in Derby week. Hawthorne's website proclaimed in "An Important Update": "Players can bet the Derby, Oaks and ALL other Churchill Downs races at Hawthorne, and Club Hawthorne betting bars!" Continuity of live racing is also key to a successful conclusion of the Chapter 11 proceedings and Hawthorne and the Illinois Thoroughbred Horsemen's Association have scrambled for horses to fill twice-weekly fields. While those efforts came up short for April 30, 47 horses were entered for seven races on May 3 for an average field size of 6.7 horses. The track is also counting on locally based horses training into racing condition and out-of-town runners being attracted from other jurisdictions winding up their season. A resolution to the bankruptcy filing is expected by midsummer in the form of a sale either to continue racing and build a long-delayed racino at the track or to demolish the facility for redevelopment on the land.