The parent company of Canterbury Park Racetrack reported a profit of $438,180 for 2008, which was a decline of more than 80% over the net income in 2007 for the Shakopee, Minn., racing entity.
Magna Entertainment Corp., which recently filed for Chapter 11 bankruptcy reorganization, received notice March 9 its Class A shares would be delisted frolm the Nasdaq stock exchange effective March 16.
Magna Entertainment Corp. will be delisted from the Toronto Stock Exchange starting in April, the company announced March 3.
- By Ryan Conley
Magna Entertainment Corp. said Nov. 4 it was not sure why its stock price had more than doubled in the last two days of trading on the NASDAQ exchange.
Shares of Magna Entertainment Corp. dropped 11.35% on their first day of trading following the company's implementation of a 1-20 reverse stock split.
Youbet.com announced May 21 it had regained compliance with NASDAQ trading requirements after its stock price traded above $1 for 10 consecutive business days.
Macrovision Corp. announced May 2 that it has completed its acquisition of Gemstar-TV Guide, the parent company of the TVG horse racing network.
- By Ryan Conley
Share of Magna Entertainment Corp. have traded under $1 for more than 30 straight days, prompting NASDAQ to notify the racing and gaming company it was out of compliance with marketplace rules and faces delisting.
- By Ryan Conley
A day after announcing new initiatives to reduce debt, Magna Entertainment Corp. hosted an earnings conference call Aug. 10 that was deemed by one financial analyst to be "irregular."
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.
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.
- By Tom LaMarra
New York City came to Louisville, Ky.--and vice versa--the morning of May 2 when the opening bell of the NASDAQ stock exchange rang from a fourth-floor porch at Churchill Downs to celebrate Derby week.
Churchill Downs Inc. president and CEO Tom Meeker will ring the NASDAQ stock market opening bell Friday to celebrate the 131st running of the Kentucky Derby (gr. I) May 7.
Gemstar-TV Guide International, the parent company of the TV Games Network, posted a preliminary second-quarter loss of $953.8 million after more than $1 billion in asset write-downs.
Youbet.com, an online racing and wagering service, had its stock listing moved to the Nasdaq SmallCap Market Aug. 9.
Public companies with ties to Thoroughbred racing slumped from 1-20% Monday as the resignation of Tyco International's chairman and growing investor skepticism dragged down the entire market.
The Nasdaq Stock Market notified executives at Youbet.com on May 16 that the company's stock was not in compliance with a $1 per share minimum standard and was subject to delisting.
Youbet.com co-founder David Marshall is investing $750,000 in the online pari-mutuel wagering service and assuming the positions of chairman and chief executive officer.
Youbet.com has been notified by the Nasdaq Stock Market that it isn't in compliance with the $1 a share minimum bid price standard.
The Nasdaq stock exchange notified Youbet.com officials Tuesday that the company still fails to meet its minimum price requirement and is subject to being delisted. To remain on the exchange, Youbet.com stock needed to trade about $1 per share for 10 consecutive days before Monday.
While most companies with ties to Thoroughbred racing followed the markets downward this week, a couple managed to see their stock values appreciate.
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