Portland Meadows

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Magna Finalizes Purchase of Portland Meadows

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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 Seeks Long-Term Rights to Portland Meadows

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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.

NTRA Adds Oaklawn Park, Tampa Bay Downs

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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.

Portland Meadows Meet to be Cut Short

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.

West Coast Race Fields Improve as Gulfstream Park Feels Slump

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 Intend to Sue Portland Meadows

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 Closes Deal on Greyhound Track

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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.

Portland Meadows Opening Delayed

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.

Portland Meadows to Close After Three Years

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.

Portland Meadows Changes Operators

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.

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