Estridge to donate $20 million from sale of Indiana Downs

Indianapolis Business Journal

Wednesday, August 22, 2007 1:08 PM

IBJ Staff Central Indiana homebuilder Paul Estridge Jr. plans to donate $10 million to the Central Indiana Community Foundation's Legacy Fund and $10 million to unspecified Indiana businesses.

The donations come from the $53.5 million in proceeds Estridge is expected to receive by selling his 34-percent stake in the Indiana Downs horse-racing track to South Bend-based Oliver Racing LLC.

The sale will bring Oliver's ownership in the Shelbyville track to 97 percent. Oliver plans to expand the Shelby County facility and add slot machines.

State clears way sale of 34 percent of Indiana Downs and slots
Estridge files petition against state over Indiana Downs race track 'windfall' fee

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Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR