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THA: TrackNet Plans to Have Horsemen at Table

Though questions persist about TrackNet Media Group, the entity formed by Churchill Downs Inc. and Magna Entertainment Corp. to buy and sell simulcast signals, it has generated an initial positive response from one of the country's major horsemen's groups.

Not So Special

By Evan Hammonds - During this year's Preakness weekend at Pimlico, the "Magna Entertainment Experience" surrounding the second jewel of the Triple Crown will not be nearly as enriching. On Jan. 25, the Maryland Jockey Club stuck a fork in the Pimlico Special (gr. I) for 2007.

Special Election to Decide Dixon Downs' Fate

The fate of Magna Entertainment Corporation's $250 million state-of-the-art racetrack for Northern California will be decided in a special election April 17 by the city of Dixon, a town of 17,500 residents 19 miles west of Sacramento.

No Santa Anita Clause for TVG

TVG viewers won't be getting what they wanted most for Christmas -- to watch and wager on races from Santa Anita Park starting with the new season on Dec. 26.

More Hurdles Facing Dixon Downs Plan

It didn't take long for foes of the Dixon Downs racetrack in Northern California to attack plans for the $250 million Magna Entertainment project approved by the Dixon City Council on Oct. 23. Already, a citizen group has turned in petitions seeking a referendum to overturn the action, and on Nov. 21, the nearby city of Davis filed a lawsuit aimed at mitigating the development's impact on the region.

Maryland Official Says 'Clock is Ticking' on Racing

  • News

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.

Magna Completes Sale of The Meadows

Magna Entertainment Corp. announced Tuesday that PA Meadows, LLC, a company owned by Cannery Casino Resorts, LLC, made payment to MEC of $175 million in cash and delivered a $25 million holdback agreement, representing the purchase price for The Meadows, a Standardbred racetrack in Pennsylvania.

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

  • 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.

Bally Technologies Gets Gulfstream Slots Contract

  • News

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.

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 Must Find New Director to be in Compliance

  • News

As a result of Gino Roncelli's departure from its board of directors on Aug. 22, Magna Entertainment Corp. is no longer in compliance with Nasdaq's audit committee requirements and must find a new director to return to good standing, it was announced Tuesday.

MEC to Proceed With Gulfstream Park Slots Parlor

  • News

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

  • News

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

  • 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.

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.

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.

DeFrancis Named CEO of New Magna Company

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."

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

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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.

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

  • News

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.

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