Michael Neuman

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Stronach Tells CHRB He'll Use $24M on Upgrades

Trying to undo the negative fallout over comments by his company's new CEO, Magna Entertainment founder Frank Stronach pledged $24 million for installation of synthetic racing surfaces at Santa Anita Park and Golden Gate Fields as well as much needed refurbishing of the Santa Anita barn area.

Magna Unwilling to Fund Santa Anita Barn Project

Magna Entertainment Corp. is willing to spend tens of millions for its upscale commercial development, The Shops at Santa Anita, in the track parking lot, but nothing to fix up the dilapidated barn area, the California Horse Racing Board learned during its meeting in Sacramento May 22.

Magna Packaging Properties to Drive Down Debt

Officials with Magna Entertainment spent a good deal of time May 9 highlighting the company's continued attack on staggering debt, and how it will correct an admittedly disappointing start for the slots operations at Gulfstream Park.

Magna Would Consider Selling Training Centers

Amid news of improvement on operating losses and increased revenues, officials with Magna Entertainment also said during an earnings conference call March 5 that selling off prominent training centers in both California and Florida was within the realm of possibility.

Magna Entertainment Names CEO, Director

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Michael Neuman was named Magna Entertainment's new chief executive officer and Charlie J. Williams was appointed to the company's board of directors, it was announced Feb. 27.

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