Magna Increasing Rates at San Luis Rey to Offset Losses
Magna Entertainment plans to increase stabling fees at its San Luis Rey Downs training center in Bonsall, Calif. in an effort to offset annual losses of $750,000.At the California Horse Racing Board's monthly meeting Friday, July 20, Magna executive Jack Liebau said rates are scheduled to increase Sept. 1 from $8 per day to $12 daily. He said the increase would enable the training center to reach a break-even point; otherwise, it would make more sense to close the facility and develop the property, Liebau said, according to the CHRB.John Van de Kamp, representing the Thoroughbred Owners of California, said stabling at San Luis Rey is not subsidized by the stabling and vanning fund administered by Southern California Off-Track Wagering Inc. Van Kamp said, however, horsemen stabled at San Luis Rey will receive $300,000 this year in starter fees for horses stabled there.Noting that many 2-year-olds developed at San Luis Rey help fill racing programs at the racetracks, commissioner Alan Landsburg suggested that the TOC, SCOTWINC, and Magna reconsider their positions and work toward a solution to the problem. He also recommended that Magna hold off on any increase until a solution is reached.According to the CHRB, the San Luis Rey matter will be placed on the board's regular agenda for its next meeting Aug. 24.
Date Posted: 7/23/2001 2:34:30 PM
Last Updated: 7/25/2001 4:24:47 PM
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