Race track operator Wembley has agreed alterations to the conditional agreement for the sale of its US gaming division, in a move which could eventually see the company wound down.

BLB, which currently holds a 22 per cent stake in the company, previously tabled a bid worth US$339m (£180m), which would see it take over Wembley’s operations at Rhode Island and Colorado.

Last week, Wembley changed the termination date for the conditional agreement for the sale from the current 30 May 2005 to 30 June. Wembley also announced the receipt of US$5m (£2.7m) plus interest from the escrow account set up with the US Attorney for Rhode Island.

In February this year, Wembley sold Wembley’s six UK race tracks for £50.3m to Risk Capital Partners (RCP), the investment vehicle headed by leisure entrepreneur Luke Johnson.