Frank Stronach

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Awesome Again's Fee Upped to $125,000

When you're hot, you're hot, and Frank Stronach knows that as well as anyone. Two days after his stallion Awesome Again was represented by two Breeders' Cup winners, Stronach announced that Awesome Again's fee was raised to $125,000.

Taking Care of Business

By Ray Paulick -- This is supposed to be the time of year when the racing world starts talking Saratoga and Del Mar, and the search begins for the hot 2-year-olds who look like they could be Triple Crown prospects 10 months from now.

HorseRacing TV Joins DISH Network

Magna Entertainment Corp.'s HorseRacing TV will now be carried on DISH network, beginning July 15. HRTV features television coverage of 13 racetracks owned, operated or managed by MEC.

Building Blocks

By Ray Paulick -- Somewhere at the Aurora, Canada, corporate headquarters where Frank Stronach sits atop his Magna International and Magna Entertainment Corp. empire, there is a warehouse filled with architectural drawings and miniature models for changes to the racetracks Magna now owns.

MID Turns Profit in First Quarter

MI Developments Inc., majority owner of Magna Entertainment Corp., reported a net income of $17.52 million on revenues of $324.93 million for the first three months of 2004.

Stronach Tells Shareholders MEC is Turning Corner

Magna Entertainment Corp. chairman Frank Stronach told shareholders Tuesday he expects the company to reach consistent profitability within one to three years through continued development of the company's racetracks and new self-service betting machines he believes will become more popular than slot machines.

Maryland Tracks May Add 'Next Generation' of Betting Machines

  • News

Magna Entertainment Corp., which owns Laurel Park and Pimlico Race Course, is considering seeking approval for a plan that would let handicappers bet on live racing from around the country using machines that have a lot of the appeal of slot machines.

MEC Reaches Deal for Gulfstream Redevelopment

  • News

Magna Entertainment Corp. and real-estate company Forest City Enterprises, Inc. will partner on a planned 80-acre development at Gulfstream Park that will include retail and entertainment facilities and a residential village that overlooks the track.

Magna Racino Opens in Austria

  • News

Magna Racino, a $91-million racetrack and entertainment facility in Ebreichsdorp, Austria, opened for business Sunday with a live harness racing program.

Brian Tobin Elected Magna Vice Chairman

  • News

The board of directors of Magna Entertainment Corp. announced Wednesday that it has elected Brian Tobin as a director and vice-chairman of the MEC Board. Tobin is the chief executive officer and a director of MI Developments Inc., which is the majority shareholder of MEC.

Battle Brewing Over Proposed Michigan Track

Magna Entertainment Corp. chairman Frank Stronach wants to get things moving with his company's proposed racetrack in Romulus, Mich., but state racing commissioner Robert Geake reiterated Thursday that much remains to be accomplished before any action can be taken.

Magna Spin-off MID Names Tobin CEO

  • News

Former Canadian cabinet minister and provincial premier Brian Tobin has been appointed chief executive officer of MI Developments Inc., a real estate spin-off of Magna International that holds a controlling interest in Magna Entertainment Corp.

MEC Team to Study Racetrack Operations

Magna Entertainment Corp. has established a "continuous improvement" team under the supervision of chief operating officer Don Amos that will conduct an orderly study of the company's racetrack operations.

Frank Talk

By Ray Paulick -- Will 2004 be a turning point for the Frank Stronach-led Magna Entertainment, which frequently has stumbled and struggled since entering the racetrack ownership business in 1998 with its purchase of Santa Anita Park? Also, will Keeneland bring back the July yearling sale and will the Thoroughbred Championship Tour kick off in 2004?

Grade I Winner Carson Hollow Dead

Grade I winner Carson Hollow, a three-time New York champion of 2002 for Frank Stronach and partners, died Aug. 25 following colic surgery at Ontario Veterinary College in Canada,

Breeders' Cup Elects Board of Directors

  • News

Breeders' Cup Ltd. elected 13 members to its board of directors through the proportional shareholder voting system by Breeders' Cup foal and stallion nominators.

Magna, Horsemen Agree to Sunshine Pact

  • News

Magna Entertainment Corp., the originator of the Sunshine Millions, announced Aug. 13 that it has signed an agreement extending the Florida-California Thoroughbred series through 2006.

Winning Belmont Trainer: Making the Grade

Bobby Frankel has almost done it all as a trainer. He's won the last three Eclipse Awards as North America's top trainer to go with the one he earned in 1993. He joined the pantheon of greats while being inducted into the Hall of Fame in 1995. He now has a classic win in his back pocket as the result of Juddmonte Farms' Empire Maker's win in the Belmont Stakes (gr. I).

Carson Hollow Injured; Surgery Scheduled

Carson Hollow, New York's 2002 Horse of the Year, suffered a chip in her left knee and might miss the remainder of the year. She is scheduled to undergo surgery at Rood and Riddle Equine Hospital near Lexington, Ky.

Magna Offers Additional $100 Million in Notes

Magna Entertainment Corp. will sell an additional $100 million worth of convertible notes at an annual interest rate of 8.55% through June 2 in hopes of gaining additional capital.

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