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PRESCOTT, Ariz. -- The Yavapai Downs horse racetrack won't be re-opening by the Memorial Day weekend after all.

New owner Gary Miller says a delay in additional financing for repairs is pushing back the track's traditional opening date.

He's now hoping for an opening date in mid-June.

Miller won't say how much financing he needs except that it's a seven-figure number.

He currently is the racetrack's only owner after submitting the winning bid in bankruptcy court.

The Daily Courier reports that Miller needs extra money to fix up the facilities and grounds after two years of neglect.

The Yavapai County Farm and Agriculture Association's board of directors abruptly shuttered the track in May 2011.

Miller says he still hasn't picked a name for the track, but it won't be Yavapai Downs.


Information from: The Daily Courier,

Associated Press,

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