Keyword: magna

  • Don Amos Retires from Magna

    Don Amos, chief operating officer of Magna Entertainment Corp., has retired, the company announced Oct. 12. MEC also announced that it has appointed Jim Bromby and Brant Latta senior vice-presidents of operation.

  • Magna, Caruso Announce Santa Anita Pacts

    Magna Entertainment Corp. and Caruso Affiliated announced Sept. 28 they have completed operating agreements for the proposed development of approximately 51 acres of undeveloped lands surrounding Santa Anita Park.

  • MEC Buys Am Tote

    Magna Entertainment Corp. completed a $17.4 million acquisition of AmTote International on Thursday, adding a major provider of totalizator services to its portfolio of horse racing entities.

  • City Staff Urges Approval of Dixon Downs Plan

    Six years after Magna Entertainment Corp. first pitched its idea, Dixon, Calif., city staff officially recommended the approval of Dixon Downs, a $250 million state-of-the-art racetrack and training center proposed for the rural town 20 miles west of Sacramento.

  • Magna Exercises AmTote Purchase Options

    Magna Entertainment Corp. announced July 26 that it has exercised its first purchase option to acquire an additional 30% equity interest in AmTote International, Inc. and has sent written notice of its intention to exercise its second purchase option to acquire the remaining 40% equity interest in the wagering technology company.

  • Fund Established to Aid Disabled Jockeys

    A group of racetracks and racing organizations are joining with the Jockeys' Guild to raise funds for the immediate needs of permanently disabled riders.

  • Raffetto Named President of Maryland Jockey Club

    Lou Raffetto Jr. was named president and chief operating officer of the Maryland Jockey Club, with Chris Dragone replacing him at the organization that operates Pimlico and Laurel as vice president and general manager.

  • MJC Announces Executive Officer Changes

    Joseph A. De Francis announced Feb. 9 that he is stepping aside as president of the Maryland Jockey Club but will continue as the organization's chief executive officer. Louis J. Raffetto, the MJC's chief operating officer, takes over as president while Chris Dragone becomes senior vice president and general manager.

  • Dixon Recall Effort Fails; Magna Rep Pleased

    A recall attempt in the town of Dixon, in part over Magna Entertainment Corporation plans to build Dixon Downs racetrack on the outskirts of the Northern California community, failed to attract enough signatures to qualify for the June 2006 ballot.

  • Dwayne Yuzik Named Portland Meadows GM

    Dwayne Yuzik has assumed the responsibilities of general manager of Oregon's Portland Meadows Racetrack as of Feb. 1, the Magna Entertainment-owned track announced Monday.

  • Magna's 2006 Maryland Dates Deal Hits Snag

    The deal that would settle the 2006 racing schedule in Maryland remained elusive on the night of Dec. 21 when the Maryland Thoroughbred Horsemen's Association refused to accept the latest proposal from Magna Entertainment Corp.

  • Katrina Evacuees Moved to 'Magnaville'

    Magna Entertainment Corp. chairman Frank Stronach provided shelter at the Palm Meadows Training Center for 212 Gulf Coast evacuees on Sept. 4, six days after Hurricane Katrina devastated the region. Friday he made good on his promise to provide shelter a lot closer to their homes.

  • Budget Increases for Gulfstream; Magna Secures Loan

    Magna Entertainment announced late Wednesday that the cost of rebuilding Gulfstream Park has escalated, forcing the need to secure a loan from the general contractor performing the work.

  • Magna's McAlpine Retires

    Former Magna Entertainment Corp. chief executive officer Jim McAlpine has retired from the company.

  • Dixon Releases Track's Environmental Draft

    Five years after Frank Stronach first pitched his dream of Dixon Downs, Magna Entertainment's model racing and entertainment complex in Northern California reached a significant milestone Sept. 23 with the release of the draft environmental impact report.

  • Magna Reports 2nd Quarter Loss of $26.9M

    Feeling the pinch of losing its Bay Meadows lease and the continued drain brought on by the rebuilding Gulfstream Park and Laurel, Magna Entertainment reported $26.9 million in second-quarter losses, the company disclosed Thursday. That translates to a loss of 25 cents a share.

  • Magna Announces Recapitalization Plan

    Magna Entertainment announced a recapitalization plan July 22 that includes two binding loan agreements with its subsidiary, MI Developments. The plan also includes a bridge loan that a Magna press release said "will permit us to proceed with an orderly marketing and sale of non-strategic real estate, racetracks, and other assets."

  • Magna Entertainment Lands Michigan Racing License

    Acting Michigan Racing Commissioner Christine C. White awarded the one available racetrack license in the Detroit Metropolitan area to Michigan Racing Inc., a fully owned subsidiary of Magna Entertainment Corporation (MEC).

  • McDaniel Resigns as Santa Anita President

    Jack McDaniel, president of Los Angeles Turf Club, Inc., which operates Santa Anita Park, has stepped down after two seasons at the helm, Magna Entertainment Corp. announced in a press release dated April 22.

  • MEC Could Benefit From Agreement Termination

    A 1999 "forbearance agreement" that prevents Magna International from investing in operations such as Magna Entertainment Corp. won't be renewed next year, Magna chairman Frank Stronach told the Toronto <i>Globe and Mail</i> newspaper.

  • Smaller Version of Gulfstream Seen for Dixon

    At the final session in a series of city-sponsored public workshops March 19, Magna Entertainment presented its updated proposal for Dixon Downs, the $250 million state-of-the-art racetrack and entertainment complex the company wants to build in Dixon, Calif., 20 miles west of Sacramento.

  • California Pari-Mutuel Clerks' Rep Outlines Tote Problems

    Pari-mutuel clerks in California said they are experiencing numerous problems with the state's tote system machinery and are concerned with the racing board's consideration of eliminating a four-second cancellation delay that gives them a last-gasp chance to correct a mistake.

  • Youbet.com Reports Record Fourth-Quarter Results

    Youbet.com reported Monday that it had record net income for the 2004 fourth quarter period of $535,372, or $0.02 per fully diluted share, compared to a loss of $1.2 million, or ($0.04) per fully diluted share, in the 2003 fourth quarter.

  • Single Magna 5 Ticket Nets $406,985

    The Magna 5, a $2 pick five wager linking races from four racetracks in an hour, kicked off its second year by paying $406,985.80 to one winner Saturday. The winning ticket was purchased at Hollywood Park.

  • NBC Beams Sunshine Millions

    NBC Sports will present live coverage of the third annual Sunshine Millions on Saturday at 4 p.m. ET.

  • McCarron planning school for aspiring riders.

    McCarron Wants to Develop Jockey School

    Retired Hall of Fame jockey Chris McCarron announced that he would resign from his position with Magna Entertainment this spring and move to Kentucky, where he intends to open a jockey school.

  • New Laurel Park Dirt Track Opens for Training

    Laurel Park's new dirt track opened for training Sunday and about 140 horses took the opportunity to test the new surface. Twenty-two official workouts were recorded.

  • HRTV to Air on Comcast in Baltimore Area

    The Maryland Jockey Club signal will appear on local Comcast systems beginning Jan. 14 as part of a digital sports package involving HorseRacing TV.

  • Big 'Cap Auction to Benefit Tsunami Victims

    Santa Anita Park joins the worldwide relief effort to aid the victims of the massive Indian Ocean tsunami by auctioning off a special day at the races on March 5, Santa Anita Handicap day.

  • Gulfstream Park to Test for 'Milkshakes'

    Following in the footsteps of sister track Santa Anita Park, Gulfstream Park announced that it expects to implement testing horses for "milkshaking," the force feeding of an alkalizing solution that typically contains bicarbonate, some time during its 2005 meet.

  • Dixon Downs On Track, Official Tells Planners

    Four years after it was first proposed, Magna Entertainment's $250 million dream track for Northern California is finally nearing the public hearing stage. A series of meetings on various aspects of the development will be held in 2005, Dixon city officials said at a planning commission meeting Dec. 21.

  • Ray Paulick&lt;br&gt;Editor-in-Chief

    No Gift Exchange

    <i>By Ray Paulick</i> - The execution of Magna's vision has been difficult given its isolationist philosophy.

  • The Maryland Jockey Club has reported it is uncertain whether this construction project on the main track at Laurel will be completed before the scheduled Dec. 26 opener.

    Status of Laurel Main Track Still Uncertain for Opener

    Less than six weeks from the scheduled reopening of Laurel Park on Dec. 26, track officials told the Maryland Racing Commission Tuesday (Nov. 16) that they still cannot guarantee the reconstructed dirt surface will be ready for racing.

  • MEC Losses Impact MI Developments

    MI Developments, the real estate spin-off of Magna International, reported a third-quarter profit of $11.5 million, but a $27.4-million loss at Magna Entertainment Corp. created a bottom-line deficit of $15.9 million. MEC is controlled by MID.