Frank Stronach

News, Articles, Videos and other content about Frank Stronach

VLT Legislation Proceeding in Florida

The sponsor of legislation that would authorize video lottery terminals at Florida's pari-mutuel facilities said budget concerns in the state give it some chance to pass. Meanwhile, two VLT bills in the Senate cleared committee March 6 and could be combined.

Stronach Proceeding with Plans for Ocala Track

  • News

Frank Stronach, chairman of Magna Entertainment, is proceeding with plans to build a racetrack complex near Ocala, Fla., despite facing several governmental and legislative hurdles.

Adena Springs to Conduct Sale of Juveniles in March

Frank Stronach's Adena Springs Farm will offer two-thirds of its current crop of 2-year-olds a public auction on March 21 at Adena Springs South near Ocala, Fla. Approximately 71 juveniles have been catalogued for the sale, which will be conducted with the help of personnel from the Ocala Breeders' Sales Company.

Red Bullet Turns in Final Work for Donn

Classic winner Red Bullet completed his last major workout on the Gulfstream Park oval before a scheduled appearance in the $500,000 Donn Handicap (gr. I) at 1 1/8 miles on Feb. 9. Red Bullet was officially clocked in :47 3/5 breezing for a half-mile.

Magna Entertainment's Statement on Advance Deposit Wagering in California

  • News

Applications from four companies seeking to offer Advance Deposit Wagering, or account wagering, in California will be considered by the California Horse Racing Board Thursday, Jan. 24. The regulations were approved by the state last Friday, allowing the CHRB to proceed with consideration of the applications from Autotote Enterprises Inc., Magna Entertainment Corporation, ODS Technologies (TVG), and Youbet.com. At the invitation of The Blood-Horse, each of the four license applicants was asked to provide a brief statement concerning their proposal for account wagering in California. Here is the response from Magna Entertainment:

Red Bullet Heads Donn Worktab

Frank Stronach's classic-winning Red Bullet worked toward his anticipated start in next month's Donn Handicap (gr. I) Wednesday morning, getting five furlongs in 1:03, breezing. In other news, Mongoose, who defeated Monarchos last weekend, may get a start in the Donn; and Beatrice Oxenberg's Best of the Rest, prepares for Gulfstream Park's signature race for older horses.

Official: Dixon Downs Plans Continue to Progress

Dixon Downs may not be on the fast track, but it's making steady progress toward ground-breaking. That's the report from the front lines in Dixon, the small California town 20 miles west of Sacramento where Magna Entertainment Corp. is hard at work developing a state-of-the-art racetrack.

Magna Plans $5-Million 'Sunshine Millions'

An eight-race, $5 million series of races for California- and Florida-bred horses has been approved by the Florida Thoroughbred Breeders and Owners Association, the California Thoroughbred Breeders' Association and Magna Entertainment Corp., at whose tracks the races would be run. The plan, however, may face a challenge from the Florida Horsemen's Benevolent and Protective Association.

Hurdles Remain for California Account Wagering

  • News

The clock ticks for the arrival of account wagering in California, and it may keep ticking well into the new year. The earliest the state's racing fans can expect to be able to open accounts and begin telephone or Internet wagering is mid-February 2002, but depending on how well the regulatory review process goes, wagering might not occur until some time in May.

Adena Springs November Sale: SaleTrends Down

The annual sale of broodmares from Frank Stronach's Adena Springs Farm was held at Fasig-Tipton Kentucky Thursday night, with the top price of $225,000 paid by J. S. McDonald for Twist a Lime, a 9-year-old Copelan mare in foal to Touch Gold.

Magna Improves Historically Slow Third Quarter

Magna Entertainment showed some improvement during the third quarter ending Sept. 30, historically the company's weakest period of the year. Revenue for the Ontario-based racing conglomerate increased 31.1% for the quarter and 24.9% for the first nine months of the year.

Magna Breaks Ground on Florida Training Center

  • News

In a ceremony highlighted by Frank Stronach wearing a hard hat and wielding a shovel, Magna Entertainment Corp. officially broke ground on its new South Florida Thoroughbred training facility Tuesday.

Magna Closes Deal on Greyhound Track

  • News

Magna Entertainment has completed its acquisition of Multnomah Greyhound Park in Portland, Ore. The racing conglomerate controlled by Frank Stronach has acquired the operations of Multnomah Greyhound Park for $5.97 million.

Macho Uno Questionable For Ohio Derby

Last year's 2-year-old male champion Macho Uno, who was being pointed toward Saturday's $300,000 Ohio Derby (gr. III) at Thistledown is questionable for the race after suffering a minor bout of colic Saturday night. If he bypasses the Ohio Derby, the $1 million Jockey Club Gold Cup (gr. I) to be run one week later at Belmont Park is being considered as his next start.

TOBA Winners Announced

The Thoroughbred Owners and Breeders Association named four owners as recipients of its 2001 Regional Owner of the Year Awards.

NYRA to Support VLT Legislation; Schwartz Rips Stronach

At a press conference at Saratoga Race Course on Wednesday, New York Racing Association chairman Barry Schwartz announced that the board of trustees of the NYRA agreed to support the introduction of video lottery terminals at Aqueduct and Belmont Park under conditions that would further the racing industry in New York State.

Report: Stronach Wouldn't Mind Owning NYRA

  • News

Less than a week after Magna Entertainment was tapped as the winning bidder for New York City Off-Track Betting Corp., the company's chairman, Frank Stronach, said he would like to add the New York Racing Association franchise to his portfolio.

It's Official! Magna Is Winning Bidder For NYCOTB

Setting the stage for a nasty battle between two racing giants, New York City Mayor Rudolph Giuliani Thursday afternoon tapped a group led by Frank Stronach's Magna Entertainment over the New York Racing Association as the winning buyer of the lucrative New York City Off Track Betting Corp.

Breeders' Cup Makes Change in Election System

Breeders' Cup has announced it received approval from its board of directors for proposed changes to the system used to elect board members. The change stems from a request by Magna Entertainment chairman Frank Stronach and was tied to his racetracks' membership in the National Thoroughbred Racing Association.

NYRA Employees Indicted; Giuliani Cancels News Conference

Four New York Racing Association employees have been indicted as part of a probe by state investigators into an alleged money laundering operation. New York City Mayor Rudolph Giuliani cancelled an 11 a.m. news conference at which he was to announce a group led by Magna Entertainment had won the purchase rights to the New York City Off Track Betting Corp.

Magna May Have NYC-OTB Inside Track

New York's top Democrat in the state Legislature said New York City Mayor Rudolph Giuliani has told him the city government is inclined to sell its massive off track betting operation to a consortium of racing interests headed by Magna Entertainment.

Paper Reports Stronach Interest in Proposed Ocala Track

The Ocala Star-Banner has reported that Magna Entertainment chairman Frank Stronach has asked to meet with members of the Ocala City Council about possible plans to build a racetrack in the Central Florida city. Two meetings reportedly scheduled with Stronach and Steve Gray, a local attorney representing him, were postponed.

Magna Closes $6.3-Million Land Deal in NoCal

Without fanfare, Magna Entertainment completed its purchase of a Sacramento Valley site for a new home for its Bay Meadows Race Course. Magna closed a $6.3-million deal on 226 acres of freeway-side property in Dixon, located about 19 miles west of Sacramento on Interstate 80.

Bailey's Belmont Mount in Stronach's Hands

It looks as though Thunder Blitz' connections, trainer Joe Orseno and owner Frank Stronach, control the destiny of who rides not only their own horse in the Belmont Stakes, but Dr Greenfield as well. If Stronach, who will make the final decision, replaces Edgar Prado with Jerry Bailey for the mile and a half classic, then Prado will land the mount on Dr Greenfield. If he decides to stick with Prado, then Bailey will ride Dr Greenfield.

Magna Eyeing Four U.S. Tracks, Another in Ontario

Magna Entertainment chairman Frank Stronach told shareholders May 11 that he plans to buy four more racetracks in the United States. He said he hopes the racing conglomerate will control 35% of the U.S. handle on Thoroughbred races within two years. Stronach is also considering breaking into the Ontario racing market.

No Breeders' Cup for Santa Anita? Magna Says Not Surprising

Santa Anita may withdraw as the host for the 2002 Breeders' Cup because of construction plans. The news has frustrated Oak Tree Racing Association officials, who conduct racing at the Arcadia, Calif., track in the fall. An executive with racetrack owner Magna Entertainment said the news should not surprise anyone since construction plans have been discussed for months.

Meeker: No Collusion on Florida Racing Dates

In an April 17 letter to Hialeah chairman John Brunetti, Tom Meeker, president and chief executive officer of Churchill Downs Inc., flatly denied allegations of collusion with Magna Entertainment Corp. in their filings for 2002 racing dates for their Florida properties. Churchill Downs owns Calder Race Course, and Magna Entertainment owns Gulfstream Park.

Primal Force Named 2000 Kentucky Broodmare of the Year

Primal Force, the only mare to produce two Breeders' Cup winners, has been named Kentucky Broodmare of the Year for 2000 by the Kentucky Thoroughbred Owners and Breeders. Owned by Frank Stronach, Primal Force produced homebred Breeders' Cup winners Awesome Again and Macho Uno. The latter was named best 2-year-old male of 2000 by the organization.

Magna: 'Show Me State' Ripe With Possibilities

Magna Entertainment is on the move again, this time in Missouri, where pari-mutuel wagering is legal but no racetracks have been built. A bill co-sponsored by nine legislators has been introduced in the House and Senate, where it could be discussed this week. The legislation spells out the powers of the racing commission, a requirement that at least 50 days of live racing be held, and a mandate that a capital investment of at least $25 million be made to build a track.

Magna Finishes $53 million Ladbroke Deal

Magna Entertainment has completed a deal to acquire an account wagering system, The Meadows harness track, four off-track betting parlors, and an 18% interest in The Racing Network for $53 million in cash, stock, and a promissory note.

Preakness Winner Red Bullet on Comeback Trail

Red Bullet, winner of the Preakness Stakes last year, has started back in light training at owner Frank Stronach's Adena Springs Farm in Ocala, and could be ready to return to the races by August at Saratoga. Farm trainer Danny Vella said the son of Unbridled is coming along great after suffering what was believed to be a hairline fracture last summer.

Portland Meadows Changes Operators

Real estate developer Tom Moyer bought the operating rights for Portland Meadows, Oregon's largest racetrack. The change, however, does not bring much stability to the state's Thoroughbred racing industry.

Stronach's Daughter Vice Chair at Magna International

Belinda Stronach, the 34-year-old daughter of Magna International chairman Frank Stronach, has been named chief executive officer and vice chairwoman of the company. Magna International reported a 6% decline in fourth-quarter earnings from the year-earlier period. Revenue climbed 6%.

Magna Reports $9.2 Million Fourth Quarter Loss

Magna Entertainment, the racetrack company chaired by owner-breeder Frank Stronach, reported Monday a net loss of $9.2 million during the fourth quarter of 2000. For the year, the company reported net income of $441,000 on revenue of $413.6 million. The fiscal year profit was a reversal from 2000, when Magna posted a $62,000 loss; the 2000 fourth quarter loss was $3-million.

Macho Uno Could Be Back By Summer

Stronach Stable's Macho Uno will not make it to the May 5 Kentucky Derby (gr. I), but he will not require surgery to get back to the racetrack. Last year's 2-year-old champion and Breeders' Cup Juvenile (gr. I) winner apparently is sore from bone-density immaturity.

NTRA, Breeders' Cup OK $54M Operating Budget

With a spending plan in place for 2001, the National Thoroughbred Racing Association and the Breeders' Cup now are looking closely at the efficiencies of an Oregon wagering hub operated by NTRA Services. The Friday meeting in South Florida marked the first for a new 15-member board. Magna Entertainment's Jim McAlpine sat in for Magna chairman Frank Stronach, who missed what would have been his first board meeting.

Magna Continues With Plans For New California Track

Before heading to New Orleans to accept his four Eclipse Awards, Frank Stronach paid another visit to Dixon, Calif., a possible location for the new home of Bay Meadows.
Last week, Stronach requested a meeting with new Dixon Mayor Mary Ann Courville and Vice Mayor Gil Vega to pitch his dream track again. "It was a very good meeting, productive and friendly," said Dixon city manager Warren Salmons.  "They rolled out a plan for us to look at . They wanted to let us know that they're still seriously interested."

Most Popular Stories