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Don Amos Retires from Magna

  • News

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

  • News

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.

MEC Buys Am Tote

  • News

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.

Magna Exercises AmTote Purchase Options

  • News

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.

Raffetto Named President of Maryland Jockey Club

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.

MJC Announces Executive Officer Changes

  • News

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.

Dixon Recall Effort Fails; Magna Rep Pleased

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 Named Portland Meadows GM

  • News

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.

Magna's 2006 Maryland Dates Deal Hits Snag

  • News

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.

Katrina Evacuees Moved to 'Magnaville'

  • News

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's McAlpine Retires

  • News

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

Dixon Releases Track's Environmental Draft

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.

Magna Reports 2nd Quarter Loss of $26.9M

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 Announces Recapitalization Plan

  • News

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."

Magna Entertainment Lands Michigan Racing License

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).

MEC Could Benefit From Agreement Termination

  • News

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.

Smaller Version of Gulfstream Seen for Dixon

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.

California Pari-Mutuel Clerks' Rep Outlines Tote Problems

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.

Single Magna 5 Ticket Nets $406,985

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.

Big 'Cap Auction to Benefit Tsunami Victims

  • News

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.

Gulfstream Park to Test for 'Milkshakes'

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.

Dixon Downs On Track, Official Tells Planners

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.

No Gift Exchange

By Ray Paulick - The execution of Magna's vision has been difficult given its isolationist philosophy.

MEC Losses Impact MI Developments

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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