Greg Avioli, president and CEO of The Stronach Group, is leaving as the head of the company's entertainment division one year after he joined its predecessor, MI Developments Inc., it was announced March 14.
The resignation takes effect April 1. Avioli left his position as the president and CEO of Breeders' Cup Ltd. to join MID in March 2011.
Avioli oversaw the effort as The Stronach Group took control of MID's racing properties following the bankruptcy proceedings of Magna Entertainment Corp, the former MID subsidiary. The transition of MID's racing and gaming assets to The Stronach Group included XpressBet, HRTV, Santa Anita Park, Gulfstream Park Racing and Casino, and the Maryland Jockey Club.
"It was a pleasure working with Frank Stronach and the entire Stronach Group team over the past year to reorganize this impressive group of racing and gaming properties," Avioli said in a statement released by TSG. "With the transition to the new ownership structure now complete and each of the business units fully licensed and operational, I just felt it was the right time to move on to new business ventures outside the company."
"Greg has been a valuable part of our team during this transitional period. We very much appreciate his contributions to The Stronach Group and wish him the best in his future endeavors," said Stronach, chairman of The Stronach Group.
The 2012 Breeders' Cup World Championships will be held at Santa Anita in November.