Magna Entertainment Corp. announced Tuesday an agreement to buy Flamboro Downs Holdings for $47 million, which will give the Ontario-based racetrack conglomerate its first racetrack in Canada.
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.
Most Popular Stories
- Arrogate Breezes at Santa Anita
- Irap Gets Best of Girvin in Ohio Derby
- Street Surrender, Roman Secure First Stakes Win
- Lady Eli, Cloud Computing Among Workers for Brown
- California Sire Benchmark Dead at 26
- Crawdaddy Two-For-Two After NYSS Score
- 'Hermaphrodite' Reported Before Race at Santa Anita
- Collected Dominant Again in Precisionist Stakes
- Battle of Midway Cruises to Affirmed Victory
- Satono Crown Surges to Victory in Takarazuka Kinen