MI Developments reported a steeper third-quarter loss Nov. 9, despite a 31% jump in revenue, hampered partly by weakness in its horse racing and gambling unit, Magna Entertainment.
Losses sustained during 2004 and the fourth quarter by racetrack operator Magna Entertainment had a negative impact on the financial results for MI Developments during the same periods.
Magna Entertainment and MI Developments chairman Frank Stronach Monday commented on recent developments at the companies, which included the resignation of Brian Tobin as CEO of MID.
Most Popular Stories
- Game On Dude, Won Three Big 'Caps, Retired
- California Chrome Draws Rail in PA Derby
- Pedigree Analysis: Inbreeding Trends
- Coltimus Prime Versus Ami's Holiday Again
- Former BH Librarian Theresa Fitzgerald Dies
- Muhtafal Retired from Stud in South Africa
- TVG Sweepstakes Offers Melbourne Cup Trip
- TimeformUS: The G2 Pennsylvania Derby
- Horseman Tom Harbut Dies at Age 94
- Demonstrative Narrow Victor in Lonesome Glory