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Proposed Magna Spin-Off Would Include MEC

Magna International has proposed a new publicly traded company--MI Developments Inc.--that would own all of Magna's automotive real estate as well as all of Magna Entertainment Corp., the leading owner of racetracks in North America in terms of holdings.

Preakness Day Handle Down 9.5% From Last Year

Total handle on the May 17 Preakness Stakes Day program at Pimlico Race Course topped $60 million for the third consecutive year, but it was down 9.5% from last year, according to figures released May 21 by the Maryland Jockey Club.

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