NEW KENT, Va.--(BUSINESS WIRE)--July 18, 1997--O.J. Peterson III, president of Colonial Downs Holdings Inc. (NASDAQ/NMS: CDWN), announced today the addition of Karl Fortman to its management team, as director of mutuels.
"Thoroughbred racing is entertainment," said Fortman. "Our goal is to insure that every participant enjoy the ultimate sports experience. Our edge is that we are interactive."
Fortman has more than 17 years experience with Autotote System Inc., a manufacturer of computerized gaming systems. Most recently, he served as operations manager at Canterbury Park in Shakopee, Mn. He also managed operations for Bay Meadows and Southern California Off-Track Wagering. His responsibilities at Colonial Downs will include overseeing the mutuels operations at the racetrack and all Horse Racing Centers throughout Virginia. He will also oversee the company's computerized systems and installation of the totalizator systems for all facilities.
"We are glad to have Karl on the team," said Peterson. "He is a valuable addition to Colonial Downs as we prepare to launch this exciting new sport and entertainment venue in Virginia."
Colonial Downs Holdings Inc. is the only company in Virginia that holds unlimited licenses to own and operate a pari-mutuel horse racing track and a Colonial Downs Horse Racing Center Network. Colonial Downs racetrack, located in New Kent County, Virginia, halfway between Richmond and Williamsburg, will open Sept. 1, 1997. It will host both thoroughbred and standardbred (harness) racing at its facility, featuring the largest turf track and second longest dirt track in the United States. Colonial Downs Holdings Inc. is a publicly held company traded on the NASDAQ National Market System under the symbol CDWN.
CONTACT: Colonial Downs Information Center
Margaret Crossen or Jennifer Ebert, 804/225-9670
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