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Cheltenham Park racecourse to be sold
The Cheltenham Park racecourse in Adelaide, South Australia, is to be sold for a reported AUS$80m (£32m, US$50m, 46.5m euro) following State Cabinet approval.
The racecourse is currently owned by the South Australian Jockey Club (SAJC), which voted in favour of selling off the course and will get all of the proceeds, while the land will be used for a housing development.
SAJC chief executive officer, Steve Ploubidis, said: “We are delighted to receive the support of the state government as we have for some time now reinforced what a significant opportunity the sale and redevelopment of Cheltenham Park racecourse will be, not only for the South Australian racing industry, but for the state as a whole.”
It is understood that the SAJC will concentrate Adelaide racing at its two other venues, Allan Scott Park Morphetville and Victoria Park. Details: www.sajc.com.au
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