NEW CASTLE — The Pennsylvania Harness Racing Commission has granted a license for a long-delayed $400 million racetrack and casino.

Tuesday’s decision means American Harness Tracks can now apply for a license from the state Gaming Control board, a process expected to take at least six months.

The harness commission required AHT to secure at least $150 million in financing and present a management plan after a developer went bankrupt.

Chicago-based Merit Management, which already has casinos in 13 states and Latin America, will develop the facility.

A 2004 law authorizing slot machine gambling called for five stand-alone casinos and two smaller resort casinos, and seven combination racetrack/casino developments.