Rochester man buys Louisiana race track

MONROE, La. (AP) — A Minnesota real estate investor has bought a bankrupt Louisiana race track for $726,000, a fraction of its original cost.

Victor Scott of Rochester, Minn., made his bids by telephone on Tuesday. The only other bidder was Monroe businessman Gus Campbell.

The News-Star reports Monroe Motor Speedway, which was plagued early by rain-outs and later by management turnover during its short history, held its last race in June 2010. It was built for about $6.3 million in 2008.

The speedway is on 55 acres on the Interstate 20 frontage road between the Garrett Road and Millhaven Road exits.

John Rea of John Rea Realty said the property could be a bargain whether it’s used as a racetrack or another development.