Palm Meadows opened the gates to its fifth season Wednesday in Florida.
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 Entertainment chairman Frank Stronach has lent his name to and invested in an energy drink that is bottled and sold by an Austrian company.
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.
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.
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.
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.
Paul Cellucci has resigned as Magna Entertainment Corporation's executive vice president of corporate development, the company announced June 30.
- By Tom Precious
The New York Racing Association will include a for-profit partner in its bid to hold onto the state franchise to operate Aqueduct, Belmont, and Saratoga racetracks, NYRA president Charles Hayward said June 26.
- By Tom Precious
The long-awaited Request For Proposals for the franchise to operate racing at Aqueduct, Belmont and Saratoga was approved for release June 13 by a state government panel, though it appears increasingly unlikely the winning bidder will be selected this year.
Paul Micucci has been named president and general manager of Gulfstream Park. Micucci joined Magna Entertainment Corp., Gulfstream Park's parent company, in March 2003.
A group of racetracks and racing organizations are joining with the Jockeys' Guild to raise funds for the immediate needs of permanently disabled riders.
Lou Raffetto Jr. was named president and chief operating officer of the Maryland Jockey Club, with Chris Dragone replacing him at the organization that operates Pimlico and Laurel as vice president and general manager.
Joseph A. De Francis announced Feb. 9 that he is stepping aside as president of the Maryland Jockey Club but will continue as the organization's chief executive officer. Louis J. Raffetto, the MJC's chief operating officer, takes over as president while Chris Dragone becomes senior vice president and general manager.
- By Jack Shinar
A recall attempt in the town of Dixon, in part over Magna Entertainment Corporation plans to build Dixon Downs racetrack on the outskirts of the Northern California community, failed to attract enough signatures to qualify for the June 2006 ballot.
Dwayne Yuzik has assumed the responsibilities of general manager of Oregon's Portland Meadows Racetrack as of Feb. 1, the Magna Entertainment-owned track announced Monday.
City officials put their demands on the table Jan. 24 for Dixon Downs, Magna Entertainment's proposed state-of-the-art racetrack and training facility near Sacramento, Calif.
The deal that would settle the 2006 racing schedule in Maryland remained elusive on the night of Dec. 21 when the Maryland Thoroughbred Horsemen's Association refused to accept the latest proposal from Magna Entertainment Corp.
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.
Magna Entertainment announced late Wednesday that the cost of rebuilding Gulfstream Park has escalated, forcing the need to secure a loan from the general contractor performing the work.
Former Magna Entertainment Corp. chief executive officer Jim McAlpine has retired from the company.
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.
Magna Entertainment announced a recapitalization plan July 22 that includes two binding loan agreements with its subsidiary, MI Developments. The plan also includes a bridge loan that a Magna press release said "will permit us to proceed with an orderly marketing and sale of non-strategic real estate, racetracks, and other assets."
Jim Gagliano, executive vice president of Maryland racing operations for the Maryland Jockey Club, resigned today.
Acting Michigan Racing Commissioner Christine C. White awarded the one available racetrack license in the Detroit Metropolitan area to Michigan Racing Inc., a fully owned subsidiary of Magna Entertainment Corporation (MEC).
Jack McDaniel, president of Los Angeles Turf Club, Inc., which operates Santa Anita Park, has stepped down after two seasons at the helm, Magna Entertainment Corp. announced in a press release dated April 22.
A 1999 "forbearance agreement" that prevents Magna International from investing in operations such as Magna Entertainment Corp. won't be renewed next year, Magna chairman Frank Stronach told the Toronto Globe and Mail newspaper.
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.
Losses sustained during 2004 and the fourth quarter by racetrack operator Magna Entertainment had a negative impact on the financial results for MI Developments during the same periods.
- By Ron Mitchell
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.
- By Jack Shinar
Pari-mutuel clerks in California said they are experiencing numerous problems with the state's tote system machinery and are concerned with the racing board's consideration of eliminating a four-second cancellation delay that gives them a last-gasp chance to correct a mistake.
Youbet.com reported Monday that it had record net income for the 2004 fourth quarter period of $535,372, or $0.02 per fully diluted share, compared to a loss of $1.2 million, or ($0.04) per fully diluted share, in the 2003 fourth quarter.
Bill Bridgen has stepped down from his full-time post as HorseRacing TV's network president, it was announced Feb. 10.
The Magna 5, a $2 pick five wager linking races from four racetracks in an hour, kicked off its second year by paying $406,985.80 to one winner Saturday. The winning ticket was purchased at Hollywood Park.
NBC Sports will present live coverage of the third annual Sunshine Millions on Saturday at 4 p.m. ET.
Retired Hall of Fame jockey Chris McCarron announced that he would resign from his position with Magna Entertainment this spring and move to Kentucky, where he intends to open a jockey school.
Portland Meadows has announced cuts in the 2005 stakes schedule totaling $51,500.
Laurel Park's new dirt track opened for training Sunday and about 140 horses took the opportunity to test the new surface. Twenty-two official workouts were recorded.
The Maryland Jockey Club signal will appear on local Comcast systems beginning Jan. 14 as part of a digital sports package involving HorseRacing TV.
Santa Anita Park joins the worldwide relief effort to aid the victims of the massive Indian Ocean tsunami by auctioning off a special day at the races on March 5, Santa Anita Handicap day.
North American fans will have a rare opportunity to wager on a pair of Uruguayan group I races from Maronas National Racetrack Thursday.
- By Scott Davis
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.
Art McFadden, President of MEC Oregon Racing will resign his post on Friday, it was announced Dec. 30.
Becky Witzman, assistant trainer for Richard Mandella for the past 6 ½ years, has joined HorseRacingTV as an analyst.
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.
- By Ray Paulick
By Ray Paulick - The execution of Magna's vision has been difficult given its isolationist philosophy.
Magna Entertainment Corp. will receive funding for the reconstruction of Gulfstream Park and The Meadows from its parent company, MI Developments.
- By Tom Keyser
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.
MI Developments, the real estate spin-off of Magna International, reported a third-quarter profit of $11.5 million, but a $27.4-million loss at Magna Entertainment Corp. created a bottom-line deficit of $15.9 million. MEC is controlled by MID.
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