Economic conditions have led the operators of Pinnacle Race Course in Michigan to put some expansion plans on hold, but the track's inaugural meet in 2008 exceeded expectations, officials said.
Tuesday, December 16, 2008
Magna Entertainment Corp. has announced it has reached an agreement to sell land once designated by its founder for racetrack development in Ocala, Fla., for $16.5 million.
Tuesday, August 12, 2008
The head of Magna Entertainment Corp. said Aug. 6 a majority interest of Santa Anita Park could be sold to help the racetrack company reduce its staggering debt load.
Wednesday, August 06, 2008
Magna Entertainment Corp., which posted a $21.25-million loss for the second quarter of 2008, said Aug. 5 it's reconsidering the sale of some assets it expected to unload as part of a debt-elimination plan.
Wednesday, August 06, 2008
After the Office of Race Commissioner granted a jockey's license to Terry Houghton, the veteran rider expressed his relief to once again be racing in his native state at the new Pinnacle Race Course near Detroit.
Tuesday, July 22, 2008
Magna Entertainment Corp. has announced the sale of Great Lakes Downs to The Little River Band of Ottawa Indians for $5 million cash, less customary closing adjustments.
Wednesday, July 16, 2008
Matt Hook has joined Pinnacle Race Course as track announcer, with additional roles as assistant racing secretary and track handicapper. The announcement was made July 16 by Pinnacle Race Course general manager Allan Plever.
Wednesday, July 16, 2008
It's hard to believe that just three and a half months after breaking ground, Pinnacle Race Course in Michigan is ready to open its doors to the public July 18.
Monday, July 14, 2008
Pinnacle Race Course in Michigan remains on schedule for a July 18 opening and has filled the position of vice president of sales and marketing.
Thursday, June 12, 2008
Michigan Racing Commissioner Christine White issued a racing license March 19 to Post It Stables for Pinnacle Race Course, a Thoroughbred facility under construction in Romulus in the Detroit metropolitan area.
Thursday, March 20, 2008The Huron Township Planning Commission approved a site plan March 10 for the proposed $142-million Pinnacle Race Course near Detroit, Mich.
Monday, March 17, 2008
With one analyst tagging the proceedings "Groundhog Day," Magna Entertainment Corp. announced Feb. 29 more losses during a short, testy conference call that discussed year-end financials for 2007.
Friday, February 29, 2008
Share of Magna Entertainment Corp. have traded under $1 for more than 30 straight days, prompting NASDAQ to notify the racing and gaming company it was out of compliance with marketplace rules and faces delisting.
Thursday, February 14, 2008
Magna Entertainment's debt-reduction sale of what it deems excess assets is under way with at least four properties already listed with real estate agents.
Tuesday, November 20, 2007
Magna Entertainment blamed the weak performance of its slots operation at Gulfstream Park Racing & Casino as a key to another in a series of poor financial quarters, as the company announced a $49.8 million net loss ending Sept. 30.
Friday, November 02, 2007
Michigan's racing commissioner approved on Oct. 31 the 2008 dates for a new racetrack to be built near Detroit. The track, named Pinnacle Race Course, was granted 63 days of live racing beginning July 18. The 10,000-seat racetrack project, near the Detroit Metro Airport, includes 200,000 square feet of retail developement.
Wednesday, October 31, 2007Michigan Thoroughbred owner and banking executive Jerry Campbell announced Oct. 8 plans for a new racetrack and retail complex to be located near Detroit Metro Airport.
Monday, October 08, 2007Michigan's horseracing industry, already reeling from decreases in revenue and the possible closure of Great Lakes Downs after this season, is facing an Oct. 1 shutdown should the state legislature fail to approve a budget.
Thursday, September 27, 2007Magna Entertainment Corp. officials said Sept. 13 the company's debt-reduction plan isn't a "fire sale," and they hope the racetrack operator is in the black in 2009.
Thursday, September 13, 2007Frank Fabian, president of the Thoroughbred Racing Protective Bureau, addressed last year's banning of several jockeys while one of the riders, Terry Houghton, is scheduled to appear before the Michigan Racing Commission June 28 for an investigatory hearing.
Tuesday, June 26, 2007Citing estimated financial losses of $1.8 million at Great Lakes Downs in 2006, Magna Entertainment announced Jan. 18 that it would not operate a meet at the Michigan racetrack beyond this year.
Thursday, January 18, 2007With no official word coming on the cases of 10 jockeys banned from tracks in Florida and Pennsylvania last month, many of the riders in question have been forced to seek employment outside of their respective circuits while attorneys continue looking into their legal options.
Saturday, January 13, 2007Alex Beitia became the 10th jockey known to be denied access to a U.S. racetrack this month when Philadelphia Park officials cited an ongoing investigation and barred him from working there for an indefinite period.
Thursday, December 21, 2006Officials close to a decision by Tampa Bay Downs to ban jockeys from its grounds is related to a race run at Great Lakes Downs this past summer.
Thursday, December 21, 2006Racing Commissioner Christine C. White today signed orders authorizing the 2007 live and simulcast horse racing calendar for Michigan's six pari-mutuel racetracks.
Tuesday, October 31, 2006Leading Michigan breeder/owner/trainer Robert Miller, who died this summer, will be remembered by the local racing community during a memorial service Sept. 23 at Great Lakes Downs in western Michigan.
Tuesday, September 19, 2006The Michigan Racing Commission has named Adam Campola, the clerk of scales at the major Maryland tracks since 2000, steward at Great Lakes Downs. The six-month meeting opens May 6.
Friday, March 31, 2006With Creative Miss at the top of the list, Michigan's leading 2005 state-bred horses were announced by state racing commissioner Christine White March 11 during the Michigan Horse Council's International Stallion Expo at the Michigan State University Agriculture Pavilion in East Lansing.
Wednesday, March 15, 2006Youbet.com, Inc. announced Monday that its advanced deposit wagering Web site has gained the right to simulcast all of Magna Entertainment Corporation's live horse racing content during the 2006 season.
Monday, December 26, 2005Jockey Roberto Perez, who allegedly bet an Oct. 4 race at Great Lakes Downs and left the horse he rode off the tickets, was suspended for seven years and fined $7,000 by stewards in Michigan.
Friday, November 04, 2005Jockey Roberto Perez was suspended by Michigan racing officials this week for allegedly placing wagers on his own behalf while excluding the horse he rode in the fourth race at Great Lakes Downs on Oct. 4.
Friday, October 07, 2005Jockey Federico Mata won his 2,000th race Sept. 27 when he guided Realbean to victory in the fourth race at Great Lakes Downs.
Wednesday, September 28, 2005Windsor Downs, which hopes to offer Thoroughbred racing in 2006, has been licensed by the Michigan Office of Racing Commissioner. It built, the facility would be the state's eighth pari-mutuel racetrack.
Tuesday, October 05, 2004Magna Entertainment Corp. has sold Great Lakes Downs in a lease-back deal that will allow it to operate a live Thoroughbred meet at the western Michigan facility and pursue plans for Michigan Downs, a proposed racetrack in the Detroit metropolitan area.
Thursday, August 26, 2004Michigan Racing Commissioner Robert Geake said Aug. 9 he would authorize the transfer of the license for Great Lakes Downs near Muskegon from MI Racing Inc., a fully owned subsidiary of Magna Entertainment Corp., to Richmond Racing.
Monday, August 09, 2004Jockey Greta Kuntzweiler will spend a portion of her summer in Portugal where she will star in a series of television commercials.
Thursday, July 15, 2004Groups for and against the proposed transfer of Michigan's Great Lakes Downs racing license had their say at a state racing commission hearing in Lansing July 29. And what they said was nothing more than expected.
Wednesday, June 30, 2004The proposed transfer of the racetrack license held by Great Lakes Downs to Richmond Racing is scheduled to be June 29 by the Office of Michigan Racing Commissioner.
Tuesday, June 29, 2004Chalk up an added entry in the already crowded field to build a Thoroughbred racetrack in the Detroit metropolitan area.
Tuesday, April 20, 2004Great Lakes Downs, Michigan's only all-Thoroughbred racetrack, was awarded 118 days of racing in 2004 under an order signed by Michigan racing commissioner Robert Geake.
Thursday, October 30, 2003Michigan Gov. Jennifer Granholm said a proposal to authorize video lottery terminals at racetracks is one possible way to help balance the state's budget.
Tuesday, October 14, 2003Magna Entertainment Corp. Monday unveiled plans for a $100-million racetrack and entertainment project near Detroit International Airport.
Wednesday, September 10, 2003In a Jan. 31 report filed with the U.S. Securities and Exchange Commission, Magna Entertainment said two of its racetracks have experienced operating losses over the past two years, and the impact will be assessed when the company releases its 2002 financial statement.
Tuesday, February 04, 2003Racing associations in Michigan have requested 734 racing dates in 2003, and among the applicants is EQTAH Group, a new concern headed by Andy Stronach.
Tuesday, September 10, 2002The future of Michigan's Thoroughbred industry may lie squarely in the hands of three departing Republican politicians who are working against a year-end deadline to decide the fate of a legislative package that could reinvigorate racing in the state.
Friday, August 02, 2002Terry Houghton, who regularly tops the standings at Great Lakes Downs, moved into an exclusive club June 3 when he became the 99th North American jockey to win his 3,000th race.
Wednesday, June 05, 2002R.D. Williams hits 3,500 winners...Rachel Lavoy out 4-6 weeks...Dogwood Dominion nomination time...Churchill Downs hosts Governor's Scholars...Arlington opens...Taylor Made interns celebrate graduation.
Tuesday, June 04, 2002Michigan's racing commissioner said her office continues to field inquiries from companies interested in operating a Thoroughbred track in the Detroit metropolitan area, something horsemen believe is a key to any future growth for the sport.
Tuesday, May 28, 2002Michigan Thoroughbred horsemen say their industry is dying because of the unfair and illegal way purse money is being distributed. The Michigan racing commissioner counters that she is using past precedent to distribute the purses, and that it would be illegal for her to vary from that precedent without the consent of all parties.
Wednesday, May 22, 2002There will be little change in the Michigan racing calendar in 2002 under a schedule authorized Oct. 31 by Annette Bacola, the state's racing commissioner.
Thursday, November 01, 2001
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