The Meadows

==Background==
* Racino in Washington County, south of Pittsburgh
==Links==
* Gambling
==Insights==
Making hay with the Meadows
:By The Tribune-Review staff, Sunday, December 30, 2007
Forget flipping a house to turn a quick profit. If you want real money, consider flipping a racino.
For nearly 20 years, the new-look Meadows Racetrack & Casino in North Strabane has been making millions of dollars in profits for owner after owner after owner.
Australian company Crown Limited agreed this month to pay $1.75 billion in a deal that includes three casinos in Las Vegas and the Meadows, where a new grandstand casino and luxury resort is already under construction and scheduled to open in early 2009.
Whispers has no way of knowing what portion of that $1.75 billion sales price went to pay for the Meadows. But just 13 months ago, Cannery Casino Resorts bought the Washington County harness racing track for $200 million -- on the promise that it could add a lucrative slots parlor.
The Meadows' 1,816 slot machines -- housed for now in a temporary casino -- have brought in more than $100 million in gross revenue over the past six months -- $45 million of which was profit.
In 2001, the Meadows' previous owner, Magna Entertainment Corp., paid $53 million for the track. It bought the property from Ladbroke Racing Corp., which picked it up in 1989 for a lousy $17 million. 
category:company