Complaint Against Magna Filed with Federal Trade Commission
Updated: Sunday, February 1, 2004 1:41 PM
Posted: Friday, January 30, 2004 11:51 AM
A complaint was filed with the Federal Trade Commission Thursday against Magna Entertainment Corp. for allegedly violating anti-trust laws with its new restrictive account-wagering policy.
The complaint was filed by a New York state employee and racing fan who requested anonymity because of her government job. She believes Magna's policy of allowing account wagering only through its Xpressbet platform is a "clear violation of anti-trust regulations in the United States."
"To this end, I am seeking the support of individuals and groups with a view to have the FTC investigate Magna's effort to eliminate competition," she said.
Magna recently stopped allowing most account-wagering providers from accepting bets on its stable of tracks. While the move is apparently designed to boost the handle of Xpressbet, it has also led to an organized boycott of Magna by handicappers.
The roster of boycotters on boycottmagna.com was over 510 as of Friday morning.
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