Frank Stronach

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Magna Racino Opens in Austria

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

Brian Tobin Elected Magna Vice Chairman

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.

Belinda Stronach Wins Nomination for Canadian Race

Belinda Stronach, daughter of Magna International owner Frank Stronach, won the Conservative Party nomination in Canada March 9 over Lois Brown, a long-time Canadian Alliance worker.

Magna Spin-off MID Names Tobin CEO

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.

Sunshine Millions: Higher Ratings, Attendance, Handle

Sunshine Millions: Higher Ratings, Attendance, Handle

There is plenty of sunshine in the final tally from last weekend's Sunshine Millions according to a press release issued by Magna Entertainment Corp. MEC reports the second running of the Sunshine Millions eclipsed last year's successes, both on track and in the home.

Sunshine Millions On-Track Attendance Jumps

Sunshine Millions On-Track Attendance Jumps

Sunshine Millions on-track attendance Saturday showed a combined 22% increase over the inaugural 2003 running of the series at Gulfstream and Santa Anita parks.

Frank Talk

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?

Breeders' Cup Elects Board of Directors

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

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

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).

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.

Magna to Introduce Patron-Friendly Betting Machines

Magna Entertainment Corp. has plans for new pari-mutuel wagering machines designed to make betting easier for first-timers, officials said May 1 during a press conference after the company's annual meeting.

Reports: Stronach Made Millions in Consulting Fees

Magna International chairman Frank Stronach earned $58.1 million (Canadian) last year, most of it from consulting fees from three European subsidiaries, according to newspaper reports in Canada.

Magna Unveils Revisions for $250-Million Dixon Downs

Magna Entertainment Corp.'s plans for Dixon Downs, the company's ideal "racetrack of the future," are finally headed to the starting gate. On March 3, MEC submitted its detailed proposal for the $250-million project to the city of Dixon, located 19 miles west of Sacramento, Calif.

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