Quay County Gaming Authority gives up 4 percent interest in proposed 'racino'
Published: Thursday, March 6th, 2008
The Quay County Gaming Authority agreed today to give up 4 percent of its 9 percent ownership to major investors in a proposed race track and casino in Tucumcari. The authority's proposal for a "racino" has gained the interest of a major investor, Don Chalmers of Rio Rancho, and others who are putting together an application to present to the state's racing commission. Coronado Partners, of which Chalmers is the majority owner, had requested the additional interest to open up the ownership to additional investors, said Warren Frost, executvie director of the authority. The authority agreed to split the remaining 5 percent among its stakeholders in the following manner: Tucumcari - 1.5 percent Quay County - 1.5 percent Village of Logan - 1 percent Village of San Jon - 1 percent. Members of the authority are governmental and elected officials from Tucumcari, Quay County and the villages of Logan and San Jon. Plans for the proposed race track and casino, and their footprint on a 248-acre site, will be unveiled to the community at a March 25 meeting in Tucumcari, Frost said. The time and place will be announced later, he said. The racino site is off of Route 66 on property that is between the Quality Inn and Kmart. The application to the state is expected to be made within five to 10 days of the public presentation, Frost said.
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