Because of cancellations brought on by a January ice storm, Portland Meadows in Oregon has added a live program for March 9.
Magna Entertainment Corp. Tuesday reported a net loss of $103.2 million for the fourth quarter of 2003, or 96 cents a share, which includes a previously announced non-cash write-down of $81.7 million on its assets.
Portland Meadows set a new single-day handle record Monday when $657,311 was bet on the nine-race program.
Sisters Monica and Shawna Barber teamed up this weekend to win six races at Portland Meadows Racetrack.
Portland Meadows has canceled Friday and Saturday racing due to unsafe weather conditions. Friday's closure marks the third consecutive day that Portland Meadows and all MEC Oregon Racing Inc. OTB's have been closed for simulcasting due to the severe weather conditions.
Jockey Joe Crispin won six races on Saturday afternoon at Portland Meadows Racetrack.
Portland Meadows drew a season-record 3,550 for Saturday's Oregon Championship Day. The fans saw leading female rider Twyla Beckner capture three of the five stakes races in the series.
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.
- By Victor Ryan
In 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.
Two-year-old Quiz The Maid overcame a difficult start coming out of the gate to win Saturday's $10,000 Lassie Stakes at Portland Meadows.
Fresh off one of the best opening days at Portland Meadows Racetrack in years, the initial response in switching from Sunday to Monday afternoon racing has been solid. Handle increased 54% from last year at this time when $176,080 was wagered on Monday's nine-race card.
The former operators of the Portland Meadows racetrack have been fined $500,000 for allowing stormwater tainted with horse manure to reach the nearby Columbia Slough.
Magna Entertainment Corp. completed on Friday the previously announced purchase of the long-term operating rights for the Portland Meadows racetrack, along with an interest in the Portland Meadows real estate from Portland-based developer Thomas P. Moyer.
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.
The National Thoroughbred Racing Association (NTRA) announced today that Oaklawn Park in Hot Springs, Ark., and Tampa Bay Downs in Oldsmar, Fla., will be rejoining the NTRA effective January 1, 2003. In addition, the NTRA announced that the Oregon HBPA will also join the organization effective January 1, 2003.
The current meet at Portland Meadows in Oregon will end Feb. 10--36 days before its scheduled conclusion--in light of an ongoing problem with surface-water removal at the racetrack.
While California has worried about declining field sizes for about two years, Santa Anita Park has created hope this year by attracting 20% more starters per race in its first two weeks. On the East Coast, however, average field size has gone from boom to bust. Gulfstream Park came out of its 2001 season with an 8.2% increase in average starters per race, but this year field size lagged 18% during the first week of racing.
Environmentalists notified Portland Meadows on Nov. 27 that they intend to sue the racetrack for illegally discharging manure into the Columbia Slough. An official with Magna Entertainment, which owns the Oregon racetrack's operating rights, called the lawsuit unfair and said the company has been working closely with the Environmental Protection Agency since assuming control in May.
Magna Entertainment has completed its acquisition of Multnomah Greyhound Park in Portland, Ore. The racing conglomerate controlled by Frank Stronach has acquired the operations of Multnomah Greyhound Park for $5.97 million.
Magna Entertainment and the Environmental Protection Agency have struck a deal that will allow Portland Meadows in Oregon to offer live racing this fall and winter.
Portland Meadows will not open Sept. 1 as planned because the Environmental Protection Agency has rejected a plan to keep contaminated storm water from leaving the racetrack property. Magna Entertainment was notified Tuesday that the plan was rejected. The environmental problems could accelerate the company's plans to build a new racetrack in the area.
Magna Entertainment has signed agreements to take over the operation of Portland Meadows and acquire Multnomah Greyhound Park near Portland, Ore.
Tom Moyer, who bought the operating rights to Portland Meadows last month, will keep the track open up to three years then develop the property. The racetrack will be managed in the meantime by Magna Entertainment, which may step in and preserve live racing in the Portland area with a new or existing track.
Real estate developer Tom Moyer bought the operating rights for Portland Meadows, Oregon's largest racetrack. The change, however, does not bring much stability to the state's Thoroughbred racing industry.
From the West Coast to the East Coast, Frank Stronach is looking to increase his Magna Entertainment holdings.
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