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
- Chasing Landaluce
- BloodHorse.com Has a New Look
- Podcast: Eclipse Awards 2013: Top 2-Year-Olds
- General Quarters Moves to Crestwood Farm
- U.S. Horses Face Tough Tests in Hong Kong
- That Handicapping Show: Claiming Crown 2013
- Hong Kong Cup Day: Dale Romans - Little Mike
- Haskin: Dr. Fager, Where Are You?
- Hollendorfer Sends Out Pair in Bayakoa
- Tattersalls Ends Year With Soaring Figures