RUIDOSO, N.M. (AP) – The owner of Ruidoso Downs Race Track and the Billy the Kid Casino has announced he is selling to a group of five businessmen.
Ruidoso Downs Race Track said Tuesday that owner R.D. Hubbard has signed a letter of intent to sell to a group made up for businessmen from Texas and California.
Stan Sigman, Gary McKinney, Narciso Flores, Johnny Trotter and John Andreini are part of the purchasing group heavily vested in the breeding and racing.
The prospective owners met Saturday morning in Oklahoma City and elected Sigman as its chair.
The New Mexico Racing Commission must approve the purchase.
Hubbard bought Ruidoso Downs in 1988 with Ed Allred, who also owns Los Alamitos Race Course in California. Hubbard later purchased Allred’s interest in the Ruidoso facility.