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."
Friday, August 10, 2007Magna Entertainment Corp. announced Monday that its agreement with Toll Bros Inc., under which the developer would purchase 157 acres of real estate in Florida, has been terminated by the buyer.
Tuesday, April 04, 2006Magna Entertainment Corp. reported Feb. 27 a total net loss of $39.7 million for the three-month period ending Dec. 31, and year-end losses of more than $105 million.
Tuesday, February 28, 2006On the same day it reported a third-quarter loss of $34.5 million, Magna Entertainment Corp. announced it entered into a deal to sell its Pennsylvania operation--The Meadows harness track and a ring of off-track betting parlors in the western part of the state--to Millennium Gaming and Oaktree Capital Management for $225 million.
Wednesday, November 09, 2005Magna Entertainment Corp. and Colonial Downs, L.P. announced Thursday they have entered into an agreement under which Colonial LP will acquire all of the outstanding shares of Maryland- Virginia Racing Circuit, Inc., a subsidiary of Magna Entertainment.
Thursday, August 18, 2005Magna Entertainment Corp. expects to have partners lined up for some of its pending racetrack gaming operations before the end of this year, and hopes to have a presence in Nevada, where account wagering could be offered in the future.
Friday, August 05, 2005Magna Entertainment Corp., which registered a $25-million decline in net income in the last year, expects to post a net loss for 2005 but is banking on profitability--and operation of slot machines in three states--by the end of 2007.
Tuesday, May 03, 2005Magna Entertainment Corp. reported a net loss of $4.12 million for the first quarter of 2005, down from net income of $21.11 million for the comparable period in 2004.
Monday, May 02, 2005Magna Entertainment Corp. must establish a stronger balance sheet before it considers expansion or the acquisition of other racing and gaming properties, said Thomas Hodgson, the newly appointed chief executive officer of the company.
Thursday, March 10, 2005
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