The continuing consolidation of racing interests seeking the franchise currently held by the New York Racing Association took a quantum leap Wednesday when it was announced that Churchill Downs Inc. and Magna Entertainment were joining the Empire Racing team.
Churchill Downs Incorporated and Magna Entertainment Corp., the two largest track-operating companies in the U.S., announced Friday that they have entered into an agreement to cooperate in the bidding process for the New York racetrack franchise, which is currently held by the New York Racing Association and will expire Dec. 31, 2007.
Don Amos, executive vice president and chief operating officer of Magna Entertainment Corp. announced Tuesday that Bill Murphy has been appointed vice president and general manager of racing operations at Gulfstream Park.
A who's who of racing industry heavyweights formally notified New York state June 30 of their interest in obtaining the franchise now held by the New York Racing Association to operate Aqueduct, Belmont, and Saratoga racetracks.
In a move that could have significance on any future development plans for Santa Anita Park, a California commission has recommended that the track be made eligible for the National Register of Historic Places.
By Ray Paulick - It's time for Magna and Gulfstream executives to refocus their energies on the core business of selling pari-mutuel tickets on horse racing. Based on their seven-year track record, they have not been very successful.
Negotiations between the Florida Horsemen's Benevolent and Protective Association and Magna Entertainment Corp. over a split of slot revenue from Gulfstream Park broke down when FHBPA representatives walked away from the talks.
Magna Entertainment announced Monday that Joe DeFrancis, chief executive officer of the Maryland Jockey Club, has been appointed CEO of PariMax, a new company to oversee the development of Magna's "various electronic distribution platforms."
Magna Entertainment Corp., Churchill Downs Incorporated, and Racing UK, announced that the three organizations have entered into a memorandum of understanding for media rights and to develop a subscription television channel to broadcast races from MEC and CDI racetracks, as well as other North American and international racetracks, into the United Kingdom and Ireland.
Gulfstream Park opened for its 2006 live race meet Wednesday, its palatial new clubhouse only partially completed and its patron facilities falling short of management's expectations when the project was begun nearly two years ago.
Youbet.com, Inc. announced Monday that its advanced deposit wagering Web site has gained the right to simulcast all of Magna Entertainment Corporation's live horse racing content during the 2006 season.
Maryland Jockey Club president Joe De Francis presented a new proposal to horsemen and breeders the week of Dec. 12 and said he believes the three sides are near a deal for 2006 racing dates. Horsemen and breeders, however, said it's not a done deal.
It appears another Maryland Racing Commission meeting will come and go Tuesday without an agreement between Magna Entertainment Corp, horsemen and breeders on a plan for the 2006 racing season in the state.
Five years after Frank Stronach first pitched his dream of Dixon Downs, Magna Entertainment's model racing and entertainment complex in Northern California reached a significant milestone Sept. 23 with the release of the draft environmental impact report.
Feeling the pinch of losing its Bay Meadows lease and the continued drain brought on by the rebuilding Gulfstream Park and Laurel, Magna Entertainment reported $26.9 million in second-quarter losses, the company disclosed Thursday. That translates to a loss of 25 cents a share.
The Ohio State Racing Commission unanimously granted the request of Thistledown to withdraw its live signal from Northfield Park, which is a harness track located six miles from the Magna Entertainment-owned Thistledown.
Friends of New York Racing, a nonprofit entity formed to devise a new economic model for New York racing, has proposed a profitable public/private structure for the New York Racing Association and installation of video lottery terminals at Belmont Park.
Jim Gagliano, who resigned May 25 as executive vice president of Maryland racing operations for Magna Entertainment Corp., has been named executive vice president and chief administrative officer for The Jockey Club.
By Ray Paulick - Conglomerate ownership was designed to bring economies of scale to the racetrack segment of the industry. Statistical evidence, along with unconfirmed reports that Hollywood Park may be sold to developers, suggests it hasn't worked very well in Southern California.
At the final session in a series of city-sponsored public workshops March 19, Magna Entertainment presented its updated proposal for Dixon Downs, the $250 million state-of-the-art racetrack and entertainment complex the company wants to build in Dixon, Calif., 20 miles west of Sacramento.
Following the defeat Tuesday of a referendum that would have permitted slot-machine gaming at Churchill Downs Inc.-owned Calder Race Course in Florida's Miami-Dade County, company president and chief executive officer Tom Meeker said CDI is encouraged by slots approval in a neighboring county and would continue to seek alternative gaming.
Despite reporting increased revenues and decreased losses during 2004 and the fourth quarter of the year, Magna Entertainment was negatively impacted by setbacks in the reconstruction of Laurel Park in Maryland and spending on gaming initiatives and regulatory matters.
NBC's telecast of the Jan. 29 Sunshine Millions from Gulfstream Park in Florida and Santa Anita Park in California earned modest overnight ratings for the network that ticked down below the 2004 edition.
Following in the footsteps of sister track Santa Anita Park, Gulfstream Park announced that it expects to implement testing horses for "milkshaking," the force feeding of an alkalizing solution that typically contains bicarbonate, some time during its 2005 meet.
In a letter to the Maryland Racing Commission and Maryland Thoroughbred Horsemen's Association, the Maryland Jockey Club announced Friday its intention to open Laurel Park for training by early next week, weather permitting.
Two group 1 fixtures from Uruguay's Maroñas National Racetrack will be simulcast into North America Jan. 6 with Pimlico Race Course serving as the North American wagering hub for the stakes. The highlight of the South American stakes is the group 1 Gran Premio Jose Pedro Ramirez, a 1 1/2-mile race that traditionally attracts some of the best horses from Argentina, Brazil, Chile and Uruguay.
Ryan Fogelsonger was off his mounts on today's nine-race card at Pimlico Race Course one day after being involved in a spill. The 23-year-old rider was injured when his mount, Summer Rainbow, was galloping out after her third place finish in Sunday's seventh race and tossed the rider who landed on his head.
Four years after it was first proposed, Magna Entertainment's $250 million dream track for Northern California is finally nearing the public hearing stage. A series of meetings on various aspects of the development will be held in 2005, Dixon city officials said at a planning commission meeting Dec. 21.
As tensions escalated between leaders of the Maryland Thoroughbred Horsemen's Association and the chairman of the Maryland Racing Commission, executives of the Maryland Jockey Club said Tuesday that the rebuilding of the Laurel Park dirt track was nearly complete.
Less than six weeks from the scheduled reopening of Laurel Park on Dec. 26, track officials told the Maryland Racing Commission Tuesday (Nov. 16) that they still cannot guarantee the reconstructed dirt surface will be ready for racing.
Approximately 59% of voters in Oklahoma cast ballots Tuesday in favor of the "State-Tribal Gaming Act" that authorizes electronic gaming operations at the three privately-owned Oklahoma racetracks and directs a share of gaming revenues from Tulsa area tribes to the publicly-owned fourth track.
Magna Entertainment Corp. announced on Wednesday that Ron Charles, former chairman of the Thoroughbred Owners of California, has been selected to assume the executive directorship of MEC California effective Nov. 1.
MI Developments, which owns 59% of the equity in Magna Entertainment Corp., announced Thursday that it will not proceed with plans to take the racetrack conglomerate private by acquiring all outstanding shares.