Purchase Scuttled

There was a deal in place for the company, Aces Wired, Inc., to purchase the Corpus Christi Greyhound Race Track’s racing license. However, it seems that this deal has been indefinitely postponed due to a state investigation into the company’s dealings.

If the deal had gone through, there would have been as many as 500 slot machines at the racetrack, without any legislation having been passed that would have made it legal. The company was claiming that they had a way to bring in slot machines and run them legally within the state.

However, many found this hard to believe, as slot machines are currently illegal in Texas. Well, it turned out that it was too hard to believe and the company is in trouble for running illegal slot machines.

The company was running slot machines in cities across the state, ones known as eight liners, and they were not legal. They thought that they were legal because the slot machines paid players on a debt card, which they thought would comply with the state’s statues against gambling.

According to the U.S. Securities and Exchange Commission, the company says that they have forfeited a $439,000 option to purchase a majority stake in the track, and will not be pursuing it.

 

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