Great Lakes Downs

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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.

Houghton: Glad to Be Back Home

Houghton: Glad to Be Back Home

After the Office of Race Commissioner granted a jockey's license to Terry Houghton, the veteran rider expressed his relief to once again be racing in his native state at the new Pinnacle Race Course near Detroit.

MEC: Great Lakes Downs Sold

MEC: Great Lakes Downs Sold

Magna Entertainment Corp. has announced the sale of Great Lakes Downs to The Little River Band of Ottawa Indians for $5 million cash, less customary closing adjustments.

Hook Joins Pinnacle as Track Announcer

Hook Joins Pinnacle as Track Announcer

Matt Hook has joined Pinnacle Race Course as track announcer, with additional roles as assistant racing secretary and track handicapper. The announcement was made July 16 by Pinnacle Race Course general manager Allan Plever.

'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.

NASDAQ: MEC Not in Compliance

NASDAQ: MEC Not in Compliance

Share of Magna Entertainment Corp. have traded under $1 for more than 30 straight days, prompting NASDAQ to notify the racing and gaming company it was out of compliance with marketplace rules and faces delisting.

MEC Properties Listed for Sale

MEC Properties Listed for Sale

Magna Entertainment's debt-reduction sale of what it deems excess assets is under way with at least four properties already listed with real estate agents.

MEC Officials Promise to Keep Chipping Away at Debt

MEC Officials Promise to Keep Chipping Away at Debt

Magna Entertainment blamed the weak performance of its slots operation at Gulfstream Park Racing & Casino as a key to another in a series of poor financial quarters, as the company announced a $49.8 million net loss ending Sept. 30.

Dates Approved for New Detroit Racetrack

Dates Approved for New Detroit Racetrack

Michigan's racing commissioner approved on Oct. 31 the 2008 dates for a new racetrack to be built near Detroit. The track, named Pinnacle Race Course, was granted 63 days of live racing beginning July 18. The 10,000-seat racetrack project, near the Detroit Metro Airport, includes 200,000 square feet of retail developement.

Michigan Budget Crisis Could Halt Horse Racing

Michigan's horseracing industry, already reeling from decreases in revenue and the possible closure of Great Lakes Downs after this season, is facing an Oct. 1 shutdown should the state legislature fail to approve a budget.

Fabian Speaks on Jockey Bans; Houghton to Attend Hearing

Fabian Speaks on Jockey Bans; Houghton to Attend Hearing

Frank Fabian, president of the Thoroughbred Racing Protective Bureau, addressed last year's banning of several jockeys while one of the riders, Terry Houghton, is scheduled to appear before the Michigan Racing Commission June 28 for an investigatory hearing.

Guild Seeks East Coast Options for Banned Jockeys

With no official word coming on the cases of 10 jockeys banned from tracks in Florida and Pennsylvania last month, many of the riders in question have been forced to seek employment outside of their respective circuits while attorneys continue looking into their legal options.

10th Jockey Ruled Off By Tracks This Month

10th Jockey Ruled Off By Tracks This Month

Alex Beitia became the 10th jockey known to be denied access to a U.S. racetrack this month when Philadelphia Park officials cited an ongoing investigation and barred him from working there for an indefinite period.

Adam Campola Named Great Lakes Steward

The Michigan Racing Commission has named Adam Campola, the clerk of scales at the major Maryland tracks since 2000, steward at Great Lakes Downs. The six-month meeting opens May 6.

Creative Miss Named Michigan Horse of the Year

With Creative Miss at the top of the list, Michigan's leading 2005 state-bred horses were announced by state racing commissioner Christine White March 11 during the Michigan Horse Council's International Stallion Expo at the Michigan State University Agriculture Pavilion in East Lansing.

Michigan Jockey Gets Fine, Seven-Year Suspension

Jockey Roberto Perez, who allegedly bet an Oct. 4 race at Great Lakes Downs and left the horse he rode off the tickets, was suspended for seven years and fined $7,000 by stewards in Michigan.

Michigan Jockey Perez Suspended in Probe

Jockey Roberto Perez was suspended by Michigan racing officials this week for allegedly placing wagers on his own behalf while excluding the horse he rode in the fourth race at Great Lakes Downs on Oct. 4.

MEC Sells Great Lakes Downs in Lease-Back Deal

Magna Entertainment Corp. has sold Great Lakes Downs in a lease-back deal that will allow it to operate a live Thoroughbred meet at the western Michigan facility and pursue plans for Michigan Downs, a proposed racetrack in the Detroit metropolitan area.

Great Lakes Downs License Transfer Approved

Michigan Racing Commissioner Robert Geake said Aug. 9 he would authorize the transfer of the license for Great Lakes Downs near Muskegon from MI Racing Inc., a fully owned subsidiary of Magna Entertainment Corp., to Richmond Racing.

Some For, Some Against Michigan License Transfer

Groups for and against the proposed transfer of Michigan's Great Lakes Downs racing license had their say at a state racing commission hearing in Lansing July 29. And what they said was nothing more than expected.

Michigan Sets Racing Schedule for 2004

Great Lakes Downs, Michigan's only all-Thoroughbred racetrack, was awarded 118 days of racing in 2004 under an order signed by Michigan racing commissioner Robert Geake.

Magna Makes Plans for Detroit Racetrack

Magna Entertainment Corp. Monday unveiled plans for a $100-million racetrack and entertainment project near Detroit International Airport.

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.

In Michigan, Racetrack Gaming Part of Proposal

The future of Michigan's Thoroughbred industry may lie squarely in the hands of three departing Republican politicians who are working against a year-end deadline to decide the fate of a legislative package that could reinvigorate racing in the state.

Here and There...

R.D. Williams hits 3,500 winners...Rachel Lavoy out 4-6 weeks...Dogwood Dominion nomination time...Churchill Downs hosts Governor's Scholars...Arlington opens...Taylor Made interns celebrate graduation.

Hope Remains for Detroit Area Thoroughbred Track

Michigan's racing commissioner said her office continues to field inquiries from companies interested in operating a Thoroughbred track in the Detroit metropolitan area, something horsemen believe is a key to any future growth for the sport.

Michigan in Quandary Over Purse Distribution

Michigan Thoroughbred horsemen say their industry is dying because of the unfair and illegal way purse money is being distributed. The Michigan racing commissioner counters that she is using past precedent to distribute the purses, and that it would be illegal for her to vary from that precedent without the consent of all parties.

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