Magna Entertainment Corp. announced Tuesday that PA Meadows, LLC, a company owned by Cannery Casino Resorts, LLC, made payment to MEC of $175 million in cash and delivered a $25 million holdback agreement, representing the purchase price for The Meadows, a Standardbred racetrack in Pennsylvania.
Magna Entertainment announced Thursday that it has entered into an agreement to sell approximately 157 acres of its excess real estate located in Palm Beach County, Florida to Toll Bros, Inc., a Pennsylvania real estate development company, for $51 million.
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