Jim Mcalpine

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Berube, Handel to Work For Equibase

Peter Berube, vice president and general manager of Tampa Bay Downs, and Hal Handel, executive vice president and chief operating officer of the New York Racing Association (NYRA), have been appointed by the Thoroughbred Racing Associations of North America (TRA) to serve on the management committee of Equibase Company LLC

Magna's McAlpine Retires

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Former Magna Entertainment Corp. chief executive officer Jim McAlpine has retired from the company.

Officials Knock Heads Over Racing Franchise

The battle over the franchise to run three New York racetracks got off to an unofficial start Aug. 2 when officials with the New York Racing Association and Magna Entertainment Corp. sparred during an Albany Law School symposium.

MEC Banks on Profitability--and Slots--by 2007

Magna Entertainment Corp., which registered a $25-million decline in net income in the last year, expects to post a net loss for 2005 but is banking on profitability--and operation of slot machines in three states--by the end of 2007.

CEO Says MEC Must First Improve Balance Sheet

Magna Entertainment Corp. must establish a stronger balance sheet before it considers expansion or the acquisition of other racing and gaming properties, said Thomas Hodgson, the newly appointed chief executive officer of the company.

MEC Wants to Be Friend of New York Racing

The president of Magna Entertainment Corp. said Dec. 10 the company would like to be part of a new organization -- Friends of New York Racing -- which hopes to reconstruct the economic model for racing in the state and perhaps seek the franchise to operate Aqueduct, Belmont Park, and Saratoga.

McAlpine: Industry Needs Change, Vision

Magna Entertainment Corp. president Jim McAlpine said the company is ready for change and part of that change includes forming more partnerships with other industry players to propel horseracing into the winner's circle.

Magna Posts Losses But Growth Plan Continues

Magna Entertainment Corp. recorded a net loss of $25.4 million in the second quarter of 2004, but officials said the company continues to "see meaningful results" from cost-cutting initiatives and the work of its Continuous Improvement Team.

MEC Has Plans--With or Without NYRA

Magna Entertainment Corp. is still willing to partner with the New York Racing Association, but it is also pursuing its own move into the New York marketplace in case NYRA isn't serious about a merger, MEC president Jim McAlpine said.

Calif. Legislators Hear Racing's Issues

Small crowds, slots and rebate shops; those woes top the list. Horse racing representatives were given the opportunity June 8 to tell a California Senate Governmental Organization sub-committee what's troubling the sport and they had plenty to say.

Maryland Officials: Help Needed to Protect Industry

Maryland racing officials and politicians really didn't make any excuses during the May 13 Alibi Breakfast at Pimlico Race Course. Instead, they called on the racing industry to do everything it can to facilitate a turn of fortunes for horse racing in the state.

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.

McAlpine Among MEC Execs Receiving Bonuses

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Magna Entertainment Corp. chief executive officer Jim McAlpine received a $200,000 bonus last year for his "contribution to the growth and development of MEC during fiscal year 2003," according to proxy material being circulated.

Magna Losses Total $103 Million in Fourth Quarter

Magna Entertainment Corp. Tuesday reported a net loss of $103.2 million for the fourth quarter of 2003, or 96 cents a share, which includes a previously announced non-cash write-down of $81.7 million on its assets.

McAlpine Stresses Improving Outlook for Calif. Racing

While business at Santa Anita Park and Golden Gate Fields is off in 2004, the president and chief executive officer of parent company Magna Entertainment Corporation told the California Horse Racing Board on Feb. 19 that the outlook is improving.

MEC: Recent Moves Designed to Benefit Tracks, Horsemen

Magna Entertainment Corp.'s top executive admitted the company has taken plenty of heat for recent business decisions tied to account wagering and rebate shops, but he indicated the racing conglomerate wouldn't apologize for a strategy he said is designed to benefit the industry in the long term.

Magna to Introduce New National Wager

Magna Entertainment Corporation announced it is offering a new national Pick 5 wager – the Magna 5 – with a guaranteed minimum pool of $500,000 at its tracks beginning Jan. 31 and continuing each Saturday through May 29.

Magna Broadens Its Base With Piece of AmTote

Less than a week after the National Thoroughbred Racing Association released a report that recommended upgrades in wagering technology and a streamlining of tote systems in the United States, Magna Entertainment Corp. acquired a 30% equity and voting interest in AmTote International for $3.82 million.

Magna, Horsemen Agree to Sunshine Pact

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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.

Magna Names New Chief Financial Officer

Magna Entertainment Corp. Thursday announced the appointment of Blake Tohana as an executive vice president and its new chief financial officer, effective July 28, replacing Graham Orr.

Magna Income Decreases in First Quarter of 2003

Magna Entertainment Corp. reported a $6-million decrease in net income for the first quarter of 2003 compared with the same period in 2002, according to a financial statement released April 30.

McAlpine, Landsburg Bring Opposing Views to ARCI

After listening to Magna Entertainment president Jim McAlpine and California Horse Racing Board member Alan Landsburg speak about racing's future Friday, executives gathered for the Association of Racing Commissioners International conference must have wondered if the two industry leaders were talking about the same sport.

Horse Racing Has Good Chance...But There Are Catches

The horse racing industry should be pretty healthy 20 years from now -- if it properly embraces technology, expanded wagering opportunities, alternative gaming, and the breeding side of business remains vital, top racetrack officials said March 14.

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.

Magna Seeks Long-Term Rights to Portland Meadows

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Magna Entertainment has agreed to purchase the long-term operating rights of Portland Meadows, as well an interest in the real estate on which the racetrack sits, from developer Thomas Moyer.

Magna Seeks License for New Pennsylvania Track

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Magna Entertainment Corp. announced late Tuesday that its indirect wholly-owned subsidiary Allegheny Thoroughbred Racing Association, Inc., has filed an application with the Pennsylvania State Horse Racing Commission for a license to conduct Thoroughbred racing at a racetrack to be constructed in Allegheny County, Pennsylvania, northwest of Pittsburgh.

Magna Says Maryland, Preakness Top Priorities

The Maryland Racing Commission voted unanimously Nov. 13 to approve Magna Entertainment Corp. as majority owner of Laurel Park and Pimlico Race Course, turning the spotlight on Magna to begin fulfilling its promise for Maryland racing. The Preakness Stakes, second leg of the Triple Crown, is a big part of the equation.

Magna Corp. Promotes Johnsen, Greco

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Magna Entertainment Corp. officially announced the appointment of Lone Star Park president Corey Johnsen to the position of group vice president for Texas, Oklahoma and Florida.

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