Ron Aswumb

An Illinois businessman with a background in both real estate development and racehorses is actively putting together an investment team to build a new $180-million Thoroughbred racino about 35 miles south of Chicago. But even a year before the first shovels might break ground, controversy is swirling because of different interpretations of the enabling gaming law that is a linchpin for the project to proceed. Ronald Awsumb, 68, who has owned and bred Thoroughbreds and also worked as a bloodstock consultant alongside his family's chief business of building malls and...