Keyword: Dennis Mills

  • Frank Stronach

    Stronach Replaces Mills as MID CEO

    Prominent Thoroughbred breeder-owner Frank Stronach has taken over as chief executive officer of MI Developments, the racetrack operating company of which he is already chairman.

  • Split Verdict in Magna Simulcast Fees Case

    A federal bankruptcy judge has ruled that simulcast providers owed money from tracks operated by bankrupt Magna Entertainment are entitled to funds they paid bettors but not reimbursement for fees and commissions.

  • Gulfstream Night Racing Finding Some Support

    Gulfstream Park could have some important political support in its goal to change a state law that prohibits Thoroughbred racing after 7 p.m. if there are benefits for other pari-mutuel sports.

  • Magna Two-Month Loss at $6.2 Million

    During the first two months of MI Development's ownership of the previous Magna Entertainment assets, the racing and gambling operations lost $6.2 million, according to the latest quarterly report.

  • The Pro-Ride at Santa Anita

    Santa Anita Track Repair Discussed at Meeting

    Amid concerns about track safety, horsemen representatives and Santa Anita management met the morning of Aug. 6 to discuss progress on renovation of the Pro-Ride synthetic racing surface that began July 26.

  • Dennis Mills

    Longer Meets, Help for Owners Suggested

    A desire for longer meets at racetracks is among the prominent themes derived from comments submitted to MI Developments vice president Dennis Mills as part of a contest at his RacingFuture.com website.

  • MID Affirms Support for California Racing

    In view of the recent announcement that the Oak Tree Racing's lease to conduct a fall meet at Santa Anita Park had not been renewed, MI Developments issued a statement May 18 reaffirming its support for California racing.

  • MEC Reorganization Plan Approved by Judge

    A Delaware Bankruptcy Court judge April 26 confirmed a reorganization plan submitted by Magna Entertainment Corp., parent company MI Developments, and a committee of unsecured MEC creditors.

  • Stronach Critical of Certain MID Investors

    Magna Entertainment Corp. chairman Frank Stronach criticized certain hedge-fund investors for putting "unwarranted" pressure on the bankrupt racetrack company's parent entity, suggesting May 8 that those antagonists could start their own company if they didn't like what they saw.

  • Bid for MEC Properties Dropped by Parent

    MI Developments said April 20 it has agreed with MEC to terminate its "stalking horse" bid of $195 million to purchase various assets, including racetracks. MEC filed for Chapter 11 bankruptcy protection in early April, at which time MID announced it would buy some of its assets.

  • MEC 2008 Loss Highest in Company History

    One day after reporting Magna Entertainment Corp. would not release an annual report due to its ongoing bankruptcy proceedings, controlling shareholder MI Developments released data showing MEC posted its highest-ever annual loss in its brief history, though it's not exactly clear what the final tally is.

  • MID: Golden Gate Closing Not Imminent

    Golden Gates Fields is not in any immediate danger of being closed and could possibly remain a racing operation indefinitely, a leading official with MI Developments said March 12.

  • Einhorn Again Challenges MEC Parent

    A long-time adversarial shareholder of MI Developments has asked the parent company of Magna Entertainment Corp. to re-examine its interest in the racing and gaming entity, calling MEC a "failed" business enterprise.

  • Magna Entertainment Ready to Take 'Drastic Action'

    Magna Entertainment Co. announced "disappointing" second-quarter earnings Aug. 9 that included a $23.4-million loss during the period, and outlined new initiatives to help reduce mounting debt that has haunted the racetrack operator.

  • Horses parade around the walking ring at Gulfstream Park Wednesday.

    Gulfstream Opener: Patrons Miss the Grandstand

    Gulfstream Park opened for its 2006 live race meet Wednesday, its palatial new clubhouse only partially completed and its patron facilities falling short of management's expectations when the project was begun nearly two years ago.