Owner Frank Stronach said Sunday that Breeders' Cup Classic - Powered by Dodge (gr. I) winner Ghostzapper will remain in training next year, with a campaign aimed at defending the title in the race he won Saturday at Lone Star Park.
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.
XpressBet received a license from the Washington Horse Racing Commission to become the second authorized advance deposit wagering provider in the state Oct. 14.
Peter W. Tunney, vice president of California operations for Magna Entertainment Corp. , has announced the appointment of veteran racing official Sean Greely as racing secretary at Golden Gate Fields.
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.
M. Douglas Young has been appointed lead director of MI Developments' board of directors, the company announced Sept. 2. MID is a Magna company that is seeking to purchase the stock of Magna Entertainment Corp.
Magna Entertainment Corp. announced Friday that Brian Tobin had resigned as the vice chairman and a director of the racetrack operating company.
- By Tom LaMarra
Magna Entertainment Corp. recorded a net loss of $25.4 million in the second quarter of 2004, but officials said the company continues to "see meaningful results" from cost-cutting initiatives and the work of its Continuous Improvement Team.
- By Ron Mitchell
The chief executive officer of MI Developments said Tuesday that the company's proposal to purchase the stock it presently does not own in Magna Entertainment and take it private will not affect the racetrack operating company's strategic business plan.
- By Jack Shinar
A California developer revealed plans Thursday to build residential and retail centers at Magna Entertainment Corp.'s two California tracks, Santa Anita Park and Golden Gate Fields.
Doug Donn, who since 1969 served in a variety of capacities at Gulfstream Park, ended his 35-year affiliation with the track by tendering his resignation as chairman of the board of the Gulfstream Park Racing Association.
MI Developments Inc., majority owner of Magna Entertainment Corp., reported a net income of $17.52 million on revenues of $324.93 million for the first three months of 2004.
- By Victor Ryan
Magna Entertainment Corp. chairman Frank Stronach told shareholders Tuesday he expects the company to reach consistent profitability within one to three years through continued development of the company's racetracks and new self-service betting machines he believes will become more popular than slot machines.
Not near a racetrack or OTB? Want to bet the Preakness? Then you'll need to open an account with XpressBet, the wagering platform of Pimlico Race Course owner Magna Entertainment Corp.
Magna Entertainment Corp., which owns Laurel Park and Pimlico Race Course, is considering seeking approval for a plan that would let handicappers bet on live racing from around the country using machines that have a lot of the appeal of slot machines.
Magna Entertainment Corp. and real-estate company Forest City Enterprises, Inc. will partner on a planned 80-acre development at Gulfstream Park that will include retail and entertainment facilities and a residential village that overlooks the track.
- By Tom Keyser
Although racing in Maryland faces an uncertain future, one thing is clear, according to Frank Stronach, head of the company that controls the Maryland Jockey Club: The Preakness will remain at Pimlico.
Magna Entertainment Corp. chief executive officer Jim McAlpine received a $200,000 bonus last year for his "contribution to the growth and development of MEC during fiscal year 2003," according to proxy material being circulated.
The Maryland Jockey Club and its majority owner, Magna Entertainment, issued a statement Wednesday reiterating their support for Pimlico Race Course at its present location.
Magna Racino, a $91-million racetrack and entertainment facility in Ebreichsdorp, Austria, opened for business Sunday with a live harness racing program.
- By Jack Shinar
Bay Meadows, thought to be starting what could have been its final year of operation on April 7, figures to be around for quite a bit longer.
The board of directors of Magna Entertainment Corp. announced Wednesday that it has elected Brian Tobin as a director and vice-chairman of the MEC Board. Tobin is the chief executive officer and a director of MI Developments Inc., which is the majority shareholder of MEC.
- By Victor Ryan
Magna Entertainment Corp. chairman Frank Stronach wants to get things moving with his company's proposed racetrack in Romulus, Mich., but state racing commissioner Robert Geake reiterated Thursday that much remains to be accomplished before any action can be taken.
Magna Entertainment Corp. announced Tuesday that it has made a non-binding proposal to the government of the Canadian Province of Quebec to invest in Quebec's four Standardbred racetracks, as well as a training center located in St. Basile le Grand.
MI Developments, a publicly traded real-estate company that owns 59% of the equity in Magna Entertainment Corp., reported big losses during the fourth quarter of 2003 largely as a result of MEC's poor financial performance.
Louie Roussel III, who owned a controlling interest in Fair Grounds until 1990, is the latest to make an offer for the New Orleans track. A week after Churchill Downs Inc. bid $28.5 million for Fair Grounds, Roussel upped the offer to $30 million, according to published reports.
Belinda Stronach, daughter of Magna International owner Frank Stronach, won the Conservative Party nomination in Canada March 9 over Lois Brown, a long-time Canadian Alliance worker.
Oklahoma Gov. Brad Henry signed a bill Monday that allows electronic gaming machines at three racetracks in the state. A bill-signing ceremony was scheduled for Tuesday.
Magna Entertainment Corp. could be on the verge of buying the four Standardbred racetracks in Quebec, Canada.
The 67th running of the $1-million Santa Anita Handicap on Saturday kicks off a live weekend racing show on KDOC-TV (Channel 56) for the remainder of the meeting.
- By Victor Ryan
Magna Entertainment Corp. may have some explaining to do at this month's California Horse Racing Board meeting as handle for its account-wagering service, Xpressbet, suffered an 18.4% decline among California residents during the year's first two months.
Magna Entertainment Corp. Tuesday reported a net loss of $103.2 million for the fourth quarter of 2003, or 96 cents a share, which includes a previously announced non-cash write-down of $81.7 million on its assets.
Despite financial results that show a net loss of $105.1 million in 2003, Magna Entertainment Corp. president Jim McAlpine said the company "made significant strides" in creating a global company built around horse racing.
The Magna 5, a pick five bet that links races from tracks owned by Magna Entertainment Corp., continued to pick up steam Feb. 21 with its highest handle in a four-week period.
Wagering handle on Magna's Pick 5 topped $600,000 Saturday for the first time since Magna Entertainment Corporation started it on Jan. 31.
- By Victor Ryan
Magna Entertainment Corp. has established a "continuous improvement" team under the supervision of chief operating officer Don Amos that will conduct an orderly study of the company's racetrack operations.
- By Jack Shinar
While business at Santa Anita Park and Golden Gate Fields is off in 2004, the president and chief executive officer of parent company Magna Entertainment Corporation told the California Horse Racing Board on Feb. 19 that the outlook is improving.
The Baltimore Planning Commission Wednesday granted its approval to the proposed expansion of Pimlico Race Course into an "entertainment destination" facility, though plans for a hotel on the site were turned down.
Three memorial funds have been established to help the family of jockey Michael Rowland, who died early today of injuries received in a riding accident last week.
Golden Gate Fields will reduce overnight purses by 3.8% beginning Feb. 11 due to total handle falling short of expectations, track officials announced Friday.
Magna Entertainment Corp.'s straw-processing plant in North Carolina, which will produce bedding for Magna's stable of racetracks, is expected to begin production late next week.
Portland Meadows set a new single-day handle record Monday when $657,311 was bet on the nine-race program.
There was $460,400 wagered in the first week of Magna Entertainment's "Magna 5" wager. There were 28 tickets with all five winners, each worth $13,928.40.
After a public hearing attended by less than a dozen residents in Dixon, Calif. Thursday, Magna Entertainment Corporation was prepared to take the next major step for its proposed Dixon Downs racetrack – preparation of a draft environmental impact report.
There is plenty of sunshine in the final tally from last weekend's Sunshine Millions according to a press release issued by Magna Entertainment Corp. MEC reports the second running of the Sunshine Millions eclipsed last year's successes, both on track and in the home.
- By Victor Ryan
A complaint was filed with the Federal Trade Commission Thursday against Magna Entertainment Corp. for allegedly violating anti-trust laws with its new restrictive account-wagering policy.
The Magna 5, a five-race wagering series with a guaranteed $500,000 minimum pool, begins Saturday at approximately 4:25 p.m. (EST). In the span of a little more than an hour, five races, tied together with one bet, will be presented at Magna Entertainment Corp. tracks.
Southern California horsemen expressed anger and dismay over the decision to slice Santa Anita's overnight purses by 6.5% beginning Jan. 31 and to slash $450,000 from the stakes program.
Magna Entertainment Corp. officially announced Jack McDaniel as new president of Santa Anita Park Tuesday.
Magna Entertainment Corp. removed another obstacle to bringing Thoroughbred racing back to the Detroit area on Tuesday when it applied to transfer its Great Lakes Downs racing license to a Delaware corporation.
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