The owner of the Colonial Downs thoroughbred track in
The Richmond Times-Dispatch says chief executive Jeffrey Jacobs made the unsolicited offer to sell Colorado-based Jacobs Entertainment Inc. He argues in a letter the deal would help MTR diversify geographically.
MTR owns casinos in
Regulatory filings show it also currently holds about 18 percent of MTR's stock. Jacobs also notes his company has maintained strong financial performance through difficult economic times.
MTR Chief Financial Officer John Bittner didn't immediately comment on the proposal Tuesday.