Racetrack Developer May Buy Arizona Downs

Prescott Valley’s Arizona Downs racetrack is under contract to be purchased by The Stronach Group, a Canadian firm positioning itself as “North America’s preeminent thoroughbred racing and pari-mutuel wagering company,” according to its website.

Tom Auther, who currently co-owns the track with his two brothers and their partner Joe Jackson, said the group has always seen itself as a transitional owner for the park, which covers 122 acres, has a seating capacity of almost 3,000 and includes 800 horse barns.

“We always kind of considered ourselves a placeholder,” he said. “We’re not real horseracing people, we just thought it was a good opportunity to get it up and running, so that some entity would come along and buy it. And that’s what happened, and we’re fortunate that it’s Stronach, you couldn’t find a better group.”

Stronach Group is the holding and investment company for its 1/ST businesses, which include racing and gaming, technology and other ventures. It owns five racetracks, among them Santa Anita Racetrack in Arcadia, California, and Pimlico in Baltimore, home of the Preakness Stakes. Stronach has developed shopping, offices and a casino around another of its tracks, Gulfstream Park in Hallandale Beach, Florida.

Auther said he isn’t privy to the specifics of 1/ST’s intentions for Arizona Downs, but “the plans are to expand it.” The transaction, in its due diligence period, likely will close in late fall 2023, although he said, “There’s no guarantee it’s going to close, but we’re working diligently to effect that.”

Arizona Downs doesn’t have any live races scheduled for 2023, partly due to the uncertainties created by the potential sale of both Arizona Downs and the much larger Turf Paradise in North Phoenix, which is under contract to be sold to an industrial developer.

Racing is not expected to continue at Turf Paradise for more than a few years if that sale closes, leaving Arizona Downs and Rillito Park Racetrack in Tucson as the only live horseracing venues in Arizona.

Arizona Downs opened in 2001 at its current site, 10501 E. AZ-89A at the northern edge of Prescott Valley, when historic Prescott Downs relocated from the center of that city and was renamed Yavapai Downs. It closed 10 years later after the owners went bankrupt after not being able to schedule a season. It reopened in 2019 under the current name and ownership with a simulcast room for off-track betting, but the pandemic scrubbed the 2020 season.

Auther said racing dates could be set for later in the year, depending on the timing of the sale. The simulcasting room remains open for OTB wagering seven days a week.

Visit www.arizonadowns.com for more information.