Magna Entertainment Corp

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Maryland Official Says 'Clock is Ticking' on Racing

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Maryland's Thoroughbred industry is likely to be downsized considerably beginning in 2008 unless racetracks are allowed more gambling options such as slot machines, a racetrack executive said Nov. 14.

Lexington Attorney to Teach UK Equine Law Course

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Laura D'Angelo, a leading equine attorney and partner at the Kentucky law firm of Wyatt, Tarrant & Combs, LLP, will be teaching Equine Law in the 2007Spring semester at the University of Kentucky College of law. The two credit course, offered to upper-class law students, is the only one of its kind at UK.

Insight Communications to Include HRTV

HorseRacing, a subsidiary of Magna Entertainment Corp. announced Tuesday, Oct. 31, that it has entered into an agreement with Insight Communications for carriage of HRTV on Insight systems beginning in time for the Breeders' Cup World Championships this Saturday.

Council OKs Dixon Downs; Opponents Want Vote

Dixon Downs, Magna Entertainment Corp.'s "dream track" for Northern California, got a giant step closer to reality the evening of Oct. 23. But a local group that opposes the project is pushing for a referendum on the project in 2007.

Don Amos Retires from Magna

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Don Amos, chief operating officer of Magna Entertainment Corp., has retired, the company announced Oct. 12. MEC also announced that it has appointed Jim Bromby and Brant Latta senior vice-presidents of operation.

Magna, Caruso Announce Santa Anita Pacts

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Magna Entertainment Corp. and Caruso Affiliated announced Sept. 28 they have completed operating agreements for the proposed development of approximately 51 acres of undeveloped lands surrounding Santa Anita Park.

Bally Technologies Gets Gulfstream Slots Contract

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Bally Technologies has signed a contract with Magna Entertainment Corp. to provide a complete slot-machine accounting, casino management, and bonusing solution, and a wide variety of gaming devices, at Gulfstream Park.

MEC Buys Am Tote

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Magna Entertainment Corp. completed a $17.4 million acquisition of AmTote International on Thursday, adding a major provider of totalizator services to its portfolio of horse racing entities.

City Staff Urges Approval of Dixon Downs Plan

Six years after Magna Entertainment Corp. first pitched its idea, Dixon, Calif., city staff officially recommended the approval of Dixon Downs, a $250 million state-of-the-art racetrack and training center proposed for the rural town 20 miles west of Sacramento.

Wagering Transmission Protocol Released by Industry Organizations

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A group comprised of representatives from eight North American horse racing organizations announced the release of Wagering Transmission Protocol ("WTP") Version 1.0. The group also is inviting commentary from interested parties that would improve and enhance the protocol.

MEC to Proceed With Gulfstream Park Slots Parlor

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Magna Entertainment Corp. said it intends to proceed with the development of a slot-machine facility at Gulfstream Park despite a decision by the Florida District Court of Appeal First District.

Stronach Touches on New York, Partnership With CDI

Magna Entertainment Corp. chairman Frank Stronach indicated his company hopes to be involved in New York racing on some level, and that it also is working with Churchill Downs Inc. on projects that will benefit the two companies and the industry at large.

MEC Alters Financing Deal for Gulfstream Slots Parlor

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Magna Entertainment Corp. has amended its project financing deal with MID Islandi to add bonds of up to $27.75 million to fund design and construction of a slot-machine facility at Gulfstream Park in South Florida.

Magna Exercises AmTote Purchase Options

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Magna Entertainment Corp. announced July 26 that it has exercised its first purchase option to acquire an additional 30% equity interest in AmTote International, Inc. and has sent written notice of its intention to exercise its second purchase option to acquire the remaining 40% equity interest in the wagering technology company.

Jockeys' Fund Unites Industry, But IHA Plan a Question

The launch of the Permanently Disabled Jockeys Fund is a clear sign the relationship between jockeys and other industry groups is improving, but they remain at odds over a proposal by some members of Congress to amend the Interstate Horseracing Act to provide insurance for jockeys and others who make their living at the racetrack.

Micucci Takes Over as Head of Gulfstream Park

Paul Micucci, vice president of the gaming division of Magna Entertainment Corp., has been named president and general manager of Gulfstream Park. He replaces Scott Savin, who had held those positions at Gulfstream since 2000.

MEC Director Says Company 'Hit Bottom in 2005'

With a first-quarter earnings report that shows net income of $2.2 million versus a net loss of $4.1 million for the same period a year earlier, Magna Entertainment Corp. is rebounding from what company officials called a very tough year in 2005, officials said.

Churchill, Magna to Provide Races to UK

Churchill Downs Inc., Magna Entertainment Corp., and Racing UK announced April 7 that the three organizations have reached agreement to partner in a subscription television channel that will broadcast races from CDI and MEC racetracks, as well as other North American and international racetracks, into the United Kingdom and Ireland.

Magna VP: Gulfstream a 'Renaissance of the Horse Industry'

Donald M. Amos, Magna Entertainment Corp.'s executive vice president and chief operating officer, told members of the Kentucky Thoroughbred Farm Manager's Club April 4 that horseracing was in need of a renaissance, and that newly renovated Gulfstream Park represented MEC's vision for that rebirth.

Stronach Seeking New Chief Executive, Partnerships, Debt Reduction

Frank Stronach, chairman of Magna Entertainment Corp., attempted to allay investor fears Thursday on the heels of yet another shakeup in the company's leadership. Stronach said he will serve as MEC's chief executive officer until a replacement can be found for outgoing president and CEO Tom Hodgson, whose departure was announced March 14.

OBS, Jai Alai Group Have Out-of-Court Settlement

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The principals on both sides of a civil lawsuit involving Ocala Breeders' Sale Co. have agreed to settle the dispute out of court, just days before the four-year-old case was set to go to trial.

Report: De Francis Takes on More Duties for MEC

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Maryland Jockey Club president Joe De Francis will now oversee customer relations and HorseRacing TV for Magna Entertainment Corp., parent company of Laurel Park and Pimlico Race Course.

Maryland Regulators Demand Unified Racing Plan

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Maryland racing commissioner Terry Saxon said Nov. 8 he would make a proposal for the commission to decide Maryland's racing dates, stabling, and expense-sharing issues at the panel's Dec. 13 meeting if a unified plan hasn't been developed by then.

MEC Reports Loss; Has Deal to Sell Pennsylvania Operation

On the same day it reported a third-quarter loss of $34.5 million, Magna Entertainment Corp. announced it entered into a deal to sell its Pennsylvania operation--The Meadows harness track and a ring of off-track betting parlors in the western part of the state--to Millennium Gaming and Oaktree Capital Management for $225 million.

Katrina Evacuees Moved to 'Magnaville'

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Magna Entertainment Corp. chairman Frank Stronach provided shelter at the Palm Meadows Training Center for 212 Gulf Coast evacuees on Sept. 4, six days after Hurricane Katrina devastated the region. Friday he made good on his promise to provide shelter a lot closer to their homes.

Lawmakers to Agencies: Consider Jockeys' Rights

Members of the U.S. House of Representatives are calling on the National Labor Relations Board and the National Institute of Occupational Safety and Health to take action to protect jockeys, exercise riders, and others who work with racehorses.

MEC Has Partner for Gulfstream Park 'Village'

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Magna Entertainment Corp. and Forest City Enterprises have entered into a partnership on the proposed Village at Gulfstream Park, a retail, entertainment, and residential development that will dovetail with racing and gaming operations at the Hallandale Beach, Fla., racetrack.

Magna's McAlpine Retires

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

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