Jim Mcalpine

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Racing Officials Announce New Security Steps

North America's three largest horseracing organizations - Magna Entertainment Corp., Churchill Downs Incorporated and the New York Racing Association Inc. - have instituted new security measures at all totalisator vendors' facilities.

Magna Skeptics

By Ray Paulick -- If the investment community is unclear about the direction Magna Entertainment is heading, it isn't alone. People in racing also are wondering exactly what chairman Frank Stronach has in mind for the company that has either acquired or has agreements to purchase racetracks in nine states and in one province of Canada.

Magna Skeptics

By Ray Paulick -- If the investment community is unclear about the direction Magna Entertainment is heading, it isn't alone. People in racing also are wondering exactly what chairman Frank Stronach has in mind for the company that has either acquired or has agreements to purchase racetracks in nine states and in one province of Canada.

Magna Skeptics

By Ray Paulick -- If the investment community is unclear about the direction Magna Entertainment is heading, it isn't alone. People in racing also are wondering exactly what chairman Frank Stronach has in mind for the company that has either acquired or has agreements to purchase racetracks in nine states and in one province of Canada.

Maryland Track Deal Figures to Have Broad Impact

Magna Entertainment has plans to transform Maryland's premier Thoroughbred racetracks into "destination entertainment centers," and apparently expand off-track wagering in the state. At this time, though, officials are reluctant to discuss details.

Magna Revenues Rise, Net Income Declines

Magna Entertainment, the publicly-held racetrack and off-track betting company, reported that revenues increased to $248.8 million during the first quarter of fiscal 2002, compared with $244.5 million for the same period one year ago.

Magna: More Tracks, Profit-Sharing Plan for Racing

Look for more of the same from Magna Entertainment, which has built itself into the largest operator of Thoroughbred racetracks in the country, in the next two years. In addition, company chairman Frank Stronach has proposed a plan to split profits from racing.

Magna Posts Mixed Fourth Quarter, Strong Gains for 2001

Magna Entertainment reported a 28% gain in fourth quarter revenue, but losses in net income and earnings per share for the three-month period ending Dec. 31. For the year, the Canadian racing conglomerate reported a 25.5% increase in revenue, a jump in net income from $441,000 to $13.5 million, and an increase in diluted earnings per share from 1 cents to 16 cents.

A New Beginning for California Racing?

  • News

The California Horse Racing Board has granted licenses to two companies to offer account wagering effective immediately, and betting will begin. But the licenses are time-sensitive, and some deals with horsemen remain in limbo.

TV Distribution Still Unclear for California Tracks

  • News

With the California Horse Racing Board only days from ruling on four applications for license to conduct advance deposit wagering, it isn't clear where three of the state's major tracks -- Santa Anita Park, Bay Meadows, and Golden Gate Fields -- are going to have their races televised.

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.

TVG's Wilson Responds to Comments by Magna's McAlpine

  • News

Mark Wilson, president and CEO of TVG, has issued a lengthy statement in response to widely-reported comments made by Jim McAlpine, President and CEO of Magna Entertainment Corporation, at the University of Arizona's Race Track Industry Program's "Symposium on Racing."

McAlpine Challenges Industry, TVG to Embrace Free Enterprise

Magna Entertainment president Jim McAlpine told racing industry leaders Thursday that their best chance to compete against Las Vegas and Disney, which he says are horse racing's true competitors, is by making industrywide deregulation and the adoption of free enterprise a top priority. And as Magna prepares to launch its own online and telephone account wagering service in California, McAlpine urged TVG to abandon its exclusive contracts with racetracks and merge its content with Magna's tracks and others.

McAlpine Challenges Industry, TVG to Embrace Free Enterprise

Magna Entertainment president Jim McAlpine told racing industry leaders Thursday that their best chance to compete against Las Vegas and Disney, which he says are horse racing's true competitors, is by making industrywide deregulation and the adoption of free enterprise a top priority.

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.

'Great State Challenge' Generates Interest

National Thoroughbred Racing Association and Breeders' Cup officials said Thursday the new "Great State Challenge" program has the potential to open up many new sponsorship opportunities for horse racing. The program, which will feature the top state-breds in the country, will be held sometime in the last three months of 2002.

Portland Meadows Opening Delayed

Portland Meadows will not open Sept. 1 as planned because the Environmental Protection Agency has rejected a plan to keep contaminated storm water from leaving the racetrack property. Magna Entertainment was notified Tuesday that the plan was rejected. The environmental problems could accelerate the company's plans to build a new racetrack in the area.

Magna Posts Second Quarter Gains

Magna Entertainment reported an 11% increase in revenue and a 21% increase in earnings before interest, taxes, depreciation, and amortization for the second quarter ending June 30. The recent quarter was the first to include all the company's operations.

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 Losses Will Exceed Previous Estimates

Magna Entertainment, which operates seven Thoroughbred tracks, reported Friday that its losses for the fourth quarter will exceed previous estimates. Rather than the previously estimated $0.04 to $0.05 per share loss, Magna said the revised estimate is a $0.11 to $0.12 per share loss for the fourth quarter and income of approximately $0.01 per share for the year.

McAlpine Appointed Magna President/CEO

Magna Entertainment Corp. appointed its third president and chief executive officer within a year. The Magna board appointed Jim McAlpine today as the company's president and chief executive officer. McAlpine was executive vice president of non-automotive affairs for Magna International, MEC's parent company and automotible parts manufacturing company founded by MEC chairman Frank Stronach.

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