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AmericaTab Handle Jumps Despite MEC Blackout

Handle through the AmericaTab family of account-wagering services was up almost 90% the first six days of January even though the services weren't permitted to offer betting on Magna Entertainment Corp. racetracks, including premier meets at Gulfstream Park and Santa Anita Park.

AmericaTab Handle Jumps Despite MEC Blackout

Handle through the AmericaTab family of account-wagering services was up almost 90% the first six days of January even though the services weren't permitted to offer betting on Magna Entertainment Corp. racetracks, including premier meets at Gulfstream Park and Santa Anita Park.

MEC Move Creates Account-Wagering Dilemma

  • News

Magna Entertainment Corp. initiated restrictions upon or pulled its live racing signals from most account-wagering services effective Dec. 26, and at least one operator isn't happy about the developments.

Portland Meadows Handle Highest in About 15 Years

  • News

Changes in first post time and fuller fields have produced pari-mutuel gains this season for Portland Meadows, which on Dec. 1 cleared the half-million-dollar mark in total handle for a program for the first time in 15 years.

Plans Approved for Pimlico Redevelopment

  • News

Magna Entertainment Corp. was granted initial approval for a major overhaul of Pimlico that would realign the racetrack and move the grandstand across the infield.

Here and There

The Horse Farm Workers' Educational Assistance Fund announces 46 scholarship recipients for 2003... MEC appoints Greg Lewis VP television production.

Magna Broadens Its Base With Piece of AmTote

Less than a week after the National Thoroughbred Racing Association released a report that recommended upgrades in wagering technology and a streamlining of tote systems in the United States, Magna Entertainment Corp. acquired a 30% equity and voting interest in AmTote International for $3.82 million.

Magna, Horsemen Agree to Sunshine Pact

  • News

Magna Entertainment Corp., the originator of the Sunshine Millions, announced Aug. 13 that it has signed an agreement extending the Florida-California Thoroughbred series through 2006.

Proposed Magna Spin-Off Would Include MEC

Magna International has proposed a new publicly traded company--MI Developments Inc.--that would own all of Magna's automotive real estate as well as all of Magna Entertainment Corp., the leading owner of racetracks in North America in terms of holdings.

Magna Names New Chief Financial Officer

Magna Entertainment Corp. Thursday announced the appointment of Blake Tohana as an executive vice president and its new chief financial officer, effective July 28, replacing Graham Orr.

Magna Says Sale of $50 Million in Notes Complete

  • News

Magna Entertainment Corp. said June 24 it has completed its previously announced sale of an additional $50-million aggregate principal amount of 8.55% convertible subordinated notes due June 15, 2010.

Studies on Dixon Downs Proposal Set to Begin

Detailed studies for the proposed $250-million Dixon Downs in Northern California are set to begin now that Magna Entertainment Corp. has received approval from the Dixon City Council for an agreement to pay for consultants for the extensive reports.

Magna to Introduce Patron-Friendly Betting Machines

Magna Entertainment Corp. has plans for new pari-mutuel wagering machines designed to make betting easier for first-timers, officials said May 1 during a press conference after the company's annual meeting.

Magna Income Decreases in First Quarter of 2003

Magna Entertainment Corp. reported a $6-million decrease in net income for the first quarter of 2003 compared with the same period in 2002, according to a financial statement released April 30.

HorseRacing TV Adds Markets, Expands Another

  • News

HorseRacing TV has signed a multi-year agreement with Cox Communications that extends the network's viewership into Orange County, Calif., and expands its coverage in San Diego. In addition, HRTV, operated by Magna Entertainment, will add three markets in Pennsylvania.

Magna Unveils Revisions for $250-Million Dixon Downs

Magna Entertainment Corp.'s plans for Dixon Downs, the company's ideal "racetrack of the future," are finally headed to the starting gate. On March 3, MEC submitted its detailed proposal for the $250-million project to the city of Dixon, located 19 miles west of Sacramento, Calif.

Magna Seeks Long-Term Rights to Portland Meadows

  • News

Magna Entertainment has agreed to purchase the long-term operating rights of Portland Meadows, as well an interest in the real estate on which the racetrack sits, from developer Thomas Moyer.

Liebau: 'Something for Everybody' at Sunshine Millions

The respective presidents of Gulfstream Park and Santa Anita Park said they have pulled out all the stops in marketing this Saturday's $3.6-million Sunshine Millions, a unique program matching Florida-breds vs. California-breds at the two Magna Entertainment owned racetracks.

Here and There

  • News

Bits and pieces from around the Thoroughbred industry...

Magna Entertainment Officially Launches HRTV

  • News

Magna Entertainment has officially launched HorseRacing TV, a 24-hour cable television network that provides Thoroughbred, Standardbred, and Quarter Horse racing from racetracks in the United States and Canada.

Magna Introduces 'Betty' to XpressBet Customers

XpressBet Betty, the English-only voice recognition system, is the latest innovation in home account-wagering technology from Magna Entertainment Corp. It allows phone bettors to place wagers by simply speaking, and works without need of a live operator.

Fairplex Meet Might be Held at Santa Anita

Fairplex Park and Santa Anita Park are in negotiation to bring the Los Angeles County Fair's 17-day end-of-summer race meeting to Santa Anita, a Magna Entertainment Corporation official told stockholders at its annual meeting April 18.

Magna: More Tracks, Profit-Sharing Plan for Racing

Look for more of the same from Magna Entertainment, which has built itself into the largest operator of Thoroughbred racetracks in the country, in the next two years. In addition, company chairman Frank Stronach has proposed a plan to split profits from racing.

Magna Posts Mixed Fourth Quarter, Strong Gains for 2001

Magna Entertainment reported a 28% gain in fourth quarter revenue, but losses in net income and earnings per share for the three-month period ending Dec. 31. For the year, the Canadian racing conglomerate reported a 25.5% increase in revenue, a jump in net income from $441,000 to $13.5 million, and an increase in diluted earnings per share from 1 cents to 16 cents.

Magna Entertainment's Statement on Advance Deposit Wagering in California

  • News

Applications from four companies seeking to offer Advance Deposit Wagering, or account wagering, in California will be considered by the California Horse Racing Board Thursday, Jan. 24. The regulations were approved by the state last Friday, allowing the CHRB to proceed with consideration of the applications from Autotote Enterprises Inc., Magna Entertainment Corporation, ODS Technologies (TVG), and Youbet.com. At the invitation of The Blood-Horse, each of the four license applicants was asked to provide a brief statement concerning their proposal for account wagering in California. Here is the response from Magna Entertainment:

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