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Magna Entertainment Corp. chairman Frank Stronach formally announced Wednesday plans for a new job-training center to be located near Pimlico Race Course in Maryland.
Thursday, January 08, 2004Handle 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.
Wednesday, January 07, 2004Handle 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.
Wednesday, January 07, 2004Youbet.com said Dec. 30 it hopes to strike a deal with Magna Entertainment Corp. to offer wagering on all the company's racetracks.
Wednesday, December 31, 2003Youbet.com said Dec. 30 it hopes to strike a deal with Magna Entertainment Corp. to offer wagering on all the company's racetracks.
Wednesday, December 31, 2003The latest in a growing number of simulcast contract disputes has led the New York Racing Association and Magna Entertainment Corp. to cease doing business with Tampa Bay Downs.
Tuesday, December 30, 2003Magna 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.
Tuesday, December 30, 2003Changes 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.
Tuesday, December 02, 2003Voters in Romulus, Mich., will decide Dec. 2 whether to allow for gambling establishments, one of which is a multi-breed racetrack proposed by Magna Entertainment Corp.
Monday, December 01, 2003In a surprise move in Oregon, Magna Entertainment Corp. has removed the Instant Racing machines that were installed earlier this year at its two tracks, Portland Meadows and Multnomah Greyhound Park.
Tuesday, November 25, 2003Magna Entertainment Corp. has begun management-level workforce cuts in an effort to reduce the company's growing losses.
Tuesday, November 11, 2003MI Developments, a real-estate spin-off of Magna International and majority shareholder of Magna Entertainment Corp., offered its first quarterly earnings report Wednesday on a pro forma basis.
Wednesday, November 05, 2003Magna Entertainment Corp., which recently said it would rebuild Pimlico Race Course, said the project now hinges on whether the state's racetracks are approved for slot machines.
Wednesday, October 08, 2003Magna Entertainment Corp. was granted initial approval for a major overhaul of Pimlico that would realign the racetrack and move the grandstand across the infield.
Friday, September 19, 2003TV Games Network has filed a countersuit against Magna Entertainment Corp. in the brewing battle over the right to broadcast Maryland Jockey Club racing.
Thursday, September 11, 2003The Maryland Racing Commission Sept. 9 commended Magna Entertainment Corp. for progress in meeting its commitment to upgrade the barn areas at Pimlico Race Course, Laurel Park, and the Bowie Training Center.
Wednesday, September 10, 2003There's a serious call in California for video surveillance of racetrack barn areas. Magna Entertainment Corp. already is looking into adding equipment at its three tracks in the state.
Wednesday, September 03, 2003The Horse Farm Workers' Educational Assistance Fund announces 46 scholarship recipients for 2003... MEC appoints Greg Lewis VP television production.
Wednesday, August 27, 2003Less 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.
Friday, August 22, 2003Magna 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.
Wednesday, August 13, 2003Magna Entertainment Corp. is still very much interested in entering the New York racing market, and would seek to obtain, if it becomes available, the New York Racing Association franchise, the head of the company said Aug. 5.
Tuesday, August 05, 2003Magna 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.
Tuesday, July 08, 2003Magna 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.
Thursday, July 03, 2003Magna Entertainment Corp. will host three gala fundraising events featuring advance screenings of Seabiscuit, the feature film from Universal Pictures, DreamWorks Pictures and Spyglass Entertainment.
Tuesday, June 24, 2003Magna 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.
Tuesday, June 24, 2003Detailed 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.
Friday, June 06, 2003Magna 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.
Friday, May 02, 2003Magna 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.
Thursday, May 01, 2003HorseRacing 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.
Wednesday, April 09, 2003Baltimore Mayor Martin O'Malley and former mayor William Donald Schaefer have urged lawmakers to pass legislation to ensure the Preakness Stakes at Pimlico Race Course remains in Baltimore.
Thursday, March 06, 2003Hall of Fame jockey Chris McCarron was named general manager of Santa Anita Park, parent company Magna Entertainment Corp. announced Wednesday.
Wednesday, March 05, 2003Magna 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.
Monday, March 03, 2003Magna 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.
Friday, February 14, 2003The 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.
Tuesday, January 21, 2003Magna 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.
Wednesday, January 08, 2003The percentage of California handle attributed to advance deposit wagering (ADW) is slowly growing, with 5.7% of in-state handle now traced to bets made through one of three account wagering providers.
Friday, July 26, 2002International investment bank Dresdner Kleinwort Wasserstein initiated coverage of Magna Entertainment last week and promptly told investors to sell.
Monday, June 24, 2002XpressBet 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.
Thursday, June 06, 2002Fairplex 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.
Sunday, April 21, 2002Look 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.
Friday, April 19, 2002Magna 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.
Tuesday, February 12, 2002Magna Entertainment Corp. said it would pay a racetrack partner in its new XpressBet account wagering system up to 60% of the takeout if the bet is placed with a 25-mile radius of that track.
Tuesday, January 29, 2002Andy Stronach, son of Magna Entertainment founder Frank Stronach, has left his father's racing conglomerate to focus on a new company that will manufacture a self-service pari-mutuel teller for novice bettors.
Wednesday, January 23, 2002Applications 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:
Wednesday, January 23, 2002Gulfstream Park received permission Tuesday to conduct round-the-clock construction on a new grandstand as soon as its meet ends April 24.
Wednesday, January 09, 2002Magna Entertainment Corp. will revive The Racing Network early next year, according to company chairman and founder Frank Stronach. The live racing network will likely be reintroduced when MEC launches its account wagering service in California.
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