Magna Entertainment Corp.
News and overview for Magna Entertainment Corp.
MI Developments notice of release of third quarter 2009 results [Press Release]
PRNewswire | 21 days 33 minutes ago
AURORA, ON, Nov. 2 /PRNewswire-FirstCall/ - MI Developments Inc. ("MID")
Bankruptcy judge rules 2 Maryland tracks can be auctioned
AGA SmartBrief a G2E production | 38 days 17 hours 16 minutes ago
...the Preakness Stakes, the second leg of the Triple Crown, at Pimlico Race Course. The owner of the tracks, Magna Entertainment Corp., filed for bankruptcy in March, and Maryland lawmakers passed legislation to ensure that the Preakness would...
Magna says it won't consider bid to move Preakness | courier-journal.com | The Courier-Journal
Courier-Journal (Louisville, Ky.), The | 39 days 23 hours 35 minutes ago
ANNAPOLIS, Md. Magna Entertainment Corp. says in bankruptcy court filings it won't consider auction bids that would move the Preakness Stakes horse race from Maryland, a decision cheered Tuesday by Gov. Martin O'Malley.
Ontario Securities Commission hearing regarding transactions with Magna Entertainment [Press Release]
PRNewswire | 104 days 3 hours 45 minutes ago
AURORA, ON, Aug. 11 /PRNewswire-FirstCall/ - MI Developments Inc. (MID)
Judge approves plan to auction Pimlico, Laurel Park tracks
Sun (Baltimore), The | 40 days 3 hours 44 minutes ago
Bankrupt track owner Magna wants Jan. 8 auction to proceed so state has time to match bids
Ontario Securities Commission Dismisses Minority Shareholder Applications [Press Release]
PRNewswire | 69 days 23 hours 44 minutes ago
OSC Rules in Favour of MI Developments Regarding Transactions With Magna Entertainment
Commission gives preliminary OK for gaming license
Native American Times (Tulsa, Okla.) | 4 hours 31 minutes ago
OKLAHOMA CITY (AP) - More than two years after expressing a formal interest in buying Remington Park, a subsidiary of the Chickasaw Nation won preliminary approval Thursday for a 2010 racing and gaming license.
MI Developments notice of release of second quarter 2009 results [Press Release]
PRNewswire | 109 days 9 hours 45 minutes ago
AURORA, ON, Aug. 6 /PRNewswire-FirstCall/ - MI Developments Inc. ("MID")
Magna extends bids deadline for tracks
Sun (Baltimore), The | 6 days 12 hours 52 minutes ago
Magna Entertainment Corp. has pushed back by a week the deadline for the second round of bids for Pimlico Race Course and Laurel Park. Bids will now be due Dec. 11 instead of Dec. 4, according to court papers.
Judge to hear arguments over Magna profit-sharing deal
Sun (Baltimore), The | 4 days 12 hours 50 minutes ago
A federal bankruptcy judge agreed Wednesday to hear arguments Jan 5
Forest City Announces New Tenants for The Village at Gulfstream Park [Press Release]
PRNewswire | 109 days 2 hours 45 minutes ago
...offering Moroccan cuisine and entertainment; and Adrenalina, an extreme...restaurants, outdoor cafes, entertainment, office and potential future...Forest City in partnership with Magna Entertainment Corp., the owner of Gulfstream...
Magna Entertainment Sells Lone Star Park For $47.9 Million
Wall Street Journal, The | 25 days 3 hours 56 minutes ago
Of DOW JONES DAILY BANKRUPTCY REVIEW Magna Entertainment Corp. (MECAQ) obtained bankruptcy-court approval Wednesday to sell its Lone Star Park horse racing track to Global Gaming Solutions LLC for $47.9 million.
Stronach revives theme park dream
Globe and Mail (Toronto), The | 3 days 10 hours 45 minutes ago
Frank Stronach has been called a visionary and compared with Cuban dictator Fidel Castro. But when he gets an idea, he doesn't give up on it easily.
Magna seeks Jan. auction of Md. racetracks
Sun (Baltimore), The | 41 days 13 hours 50 minutes ago
Bidders must vow to keep Preakness here, court told
Magna asks court to bar '02 slots deal
Sun (Baltimore), The | 25 days 13 hours 54 minutes ago
The bankrupt owner of Laurel Park and Pimlico Race Course wants to terminate a profit-sharing agreement to split any potential slots proceeds with the tracks' former owners, including Joseph De Francis, before the two racetracks go on the auction block early next year.
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Company Overview
| Company: | Magna Entertainment Corp. |
|---|---|
| Industry: | Gaming Activities |
| Website: | http://www.magnaent.com |
Racing fans gallop to these tracks to bet on the ponies. Magna Entertainment Corp. (MEC) is a leading player in North American horse racing, with about 10 race tracks in eight states. Its portfolio includes California's famed Santa Anita Park, Pimlico in Baltimore, and Gulfstream Park in Florida. In addition to live racing, MEC operates several simulcast systems that distribute racing events to off-track betting facilities, as well as wagering deposit systems that allow punters to place bets online and by telephone. The company also has racing operations and wagering systems in Europe. Controlled by chairman Frank Stronach through MI Developments, MEC filed for bankruptcy in 2009.
Key Numbers
| Sales in U.S. Dollars (mil.) | 625.7 (2007) |
|---|---|
| One-year % Growth in Sales | -10.9 (2007) |
| Net Income in U.S. Dollars (mil.) | -113.8 (2007) |
| One-year % Growth in Net Income | 0.0 (2007) |
| Number of Employees | 5,300 (2007) |
| One-year % Growth in Number of Employees | 0.0 (2007) |
| Fiscal Year-End | December |