Remington Park

News, Articles, Videos and other content about Remington Park

Remington Park: Purses Up, Handle Down

Remington Park: Purses Up, Handle Down

Remington Park in Oklahoma recently completed its 20th season of Thoroughbred racing with a record purse disbursement and increased attendance, but followed national trends with a decline in most wagering statistics.

MEC May Reconsider Sale of Some Assets

MEC May Reconsider Sale of Some Assets

Magna Entertainment Corp., which posted a $21.25-million loss for the second quarter of 2008, said Aug. 5 it's reconsidering the sale of some assets it expected to unload as part of a debt-elimination plan.

'Groundhog Day:' MEC Losses Mount

'Groundhog Day:' MEC Losses Mount

With one analyst tagging the proceedings "Groundhog Day," Magna Entertainment Corp. announced Feb. 29 more losses during a short, testy conference call that discussed year-end financials for 2007.

Gulfstream Park Cuts Slots

Gulfstream Park Cuts Slots

Magna Entertainment Corp. has overhauled the ailing slots operation at its Gulfstream Park Racing and Casino complex by reducing the amount of machines it offers and expanding its simulcasting area.

TRRN to Sponsor Oklahoma Classic

The Oklahoma Thoroughbred Association has announced that the Thoroughbred Racing Radio Network will be the sponsor of the $100,000 Oklahoma Classics Classic race for 2007.

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.

Zee Oh Six Completes Oklahoma Classics Hat Trick

Zee Oh Six lived up to his heavy 1-5 favorite status to win Saturday's $100,000 Oklahoma Thoroughbred Association Classic at Remington Park. By taking the top race on the 14th Oklahoma Classics night, Zee Oh Six equals Mr. Ross, becoming just the second horse to win the Classic three times.

MEC Director Says Company 'Hit Bottom in 2005'

With a first-quarter earnings report that shows net income of $2.2 million versus a net loss of $4.1 million for the same period a year earlier, Magna Entertainment Corp. is rebounding from what company officials called a very tough year in 2005, officials said.

Magna Announces Recapitalization Plan

Magna Entertainment announced a recapitalization plan July 22 that includes two binding loan agreements with its subsidiary, MI Developments. The plan also includes a bridge loan that a Magna press release said "will permit us to proceed with an orderly marketing and sale of non-strategic real estate, racetracks, and other assets."

Oklahoma Regulators Preparing Gaming Rules

Gaming at Oklahoma racetracks is closer to reality, Oklahoma Horse Racing Commission officials said Jan. 27 during their monthly meeting. Rules that would govern alternative gaming will be formulated in a month, they said.

Oklahomans Approve Racetrack Slots Initiative; Florida Outcome Still Undecided

Approximately 59% of voters in Oklahoma cast ballots Tuesday in favor of the "State-Tribal Gaming Act" that authorizes electronic gaming operations at the three privately-owned Oklahoma racetracks and directs a share of gaming revenues from Tulsa area tribes to the publicly-owned fourth track.

Oklahoma Gaming Bill Signed Into Law

Oklahoma Gov. Brad Henry signed a bill Monday that allows electronic gaming machines at three racetracks in the state. A bill-signing ceremony was scheduled for Tuesday.

Magna Losses Total $103 Million in Fourth Quarter

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.

Oklahoma Deal Calls for Racetrack Gaming

Oklahoma Deal Calls for Racetrack Gaming

Indian tribes, the horse racing industry, and Gov. Brad Henry have reached an agreement on legislation that would allow racetracks to install gaming machines and regulate devices currently operating at tribal casinos. The measure now goes to the state legislature.

Year Book

Year Book

By Ray Paulick -- Let's hope other track operators have learned something from the NYRA investigation. Meanwhile, a review of other top events of '03 shows optimism for the New Year within racing, breeding, and auction sectors of the industry.

Magna Reports Two Tracks Operating at Loss

In a Jan. 31 report filed with the U.S. Securities and Exchange Commission, Magna Entertainment said two of its racetracks have experienced operating losses over the past two years, and the impact will be assessed when the company releases its 2002 financial statement.

Here and There

Bits and pieces from around the Thoroughbred industry...

Oklahoma Dates Compromise is No Solution, Say Horsemen

The Oklahoma Racing Commission approved a compromise racing schedule that tried to preserve a Quarter Horse meet at Remington Park, while allowing the financially trouble track to stay open. The trouble is that no one likes the compromise and some feel it was railroaded through by the commissioners.

Remington Park Forced to Run Quarter Horse Dates

Remington Park Forced to Run Quarter Horse Dates

The Oklahoma Racing Commission denied Thursday a request by Remington Park to eliminate its Quarter Horse dates for the time being and run only 65 days of Thoroughbred racing next year. Remington Park officials say the decision puts the track in financial jeopardy and may force it to close.

Most Popular Stories