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.
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.
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.
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.
Following the record-setting trend of this year's juvenile market, the Adena Springs auction generated its highest ever figures for gross revenue, average price, and median price Thursday during its third edition.
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.
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.
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.
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.
The electricity that once rippled throughout Gulfstream Park each winter has moved north to Palm Meadows training center in Boynton Beach, where many of the country's top 3-year-olds prepare in style for their arduous journey to Churchill Downs.
The 4-year-old filly, Pesci, is looking to upstage her Academy Award winning owner and namesake, Joe Pesci, when she goes to the post against older fillies and mares in the Jan. 24 Sunshine Milions Ocala Breeders' Sales Distaff at Gulfstream Park.
Adena Springs, with earnings of $11,550,052, heads the list of leading individual breeders in North America in 2003, according to statistics released Monday by The Jockey Club Information Systems, Inc.
Thoroughbred horse owner-breeder Frank Stronach could reassume his role as chief executive officer of auto-parts manufacturer Magna International if his daughter Belinda is elected to public office in Canada.
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?
Good food, lively conversation, and quality mares at reasonable prices punctuated the seventh annual Adena Springs Broodmare Auction held Nov. 6 at Fasig-Tipton Kentucky's Newtown Paddocks near Lexington.
Stronach Stables' Ghostzapper unleashed a devastating stretch run to romp to a 6 1/2-length victory in Saturday's $500,000 Vosburgh (gr. I), missing the track record at Belmont Park by a fifth of a second.
Milwaukee Brew, one of only two horses to win multiple runnings of the Santa Anita Handicap (gr. I), injured an ankle during Sunday's running of the Pacific Classic (gr. I) and will not race again this year.
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, 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.
Former President Bill Clinton, among those packed into Pimlico's Turf Club on Preakness Day, predicted New York-bred Funny Cide, winner of the Kentucky Derby (gr. I), would also win the Visa Triple Crown's second jewel.
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.
In a battle of longtime training brothers, Mel Stute, 75, defeated Warren Stute, 81, when Buffythecenterfold edged favored Watching You by a nose Sunday in the $79,425 Santa Paula Stakes for 3-year-old fillies at Santa Anita Park.
Even though the world is full of uncertainty, Ocala Breeders' Sales Company executive Tom Ventura is hoping for another steady performance from the March select auction of 2-year-olds in training, which begins Tuesday in Florida.
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.
Milwaukee Brew is set to defend his title for owner Frank Stronach and trainer Bobby Frankel in the $1 million Santa Anita Handicap (gr. I) on March 1, but with war drums in the Middle East beating loudly, Frankel could add Strub Stakes (gr. II) winner Medaglia d'Oro to the Big 'Cap mix.