Magna Entertainment Corp.
News and overview for Magna Entertainment Corp.
Churchill in deal to acquire Youbet.com
American City Business Journals | 11 days 23 hours 5 minutes ago
Churchill Downs Inc. has reached an agreement to acquire advance-deposit wagering company Youbet.
Preakness required to stay in Maryland
United Press International | 41 days 10 hours 19 minutes ago
ANNAPOLIS, Md., Oct. 13 (UPI) -- The bankrupt owners of the Pimlico Race Course and Laurel Park say bidders in an auction will be required to keep the Preakness in Maryland.
The Daily Docket: U.S. Clears Pilgrim s Pride Deal
Wall Street Journal, The | 39 days 13 hours 7 minutes ago
The Federal Trade Commission and Department of Justice have cleared Brazilian been producer JBS SA to buy Pilgrim’s Pride Corp. out of bankruptcy, according to the Associated Press.
Churchill bets on online growth | courier-journal.com | The Courier-Journal
Courier-Journal (Louisville, Ky.), The | 11 days 20 hours 58 minutes ago
Churchill Downs Inc. is making its biggest expansion yet into online gambling, announcing Wednesday it will buy Youbet.com for $127.8 million in cash and stock.
Md. horse racing commission takes 'status quo' approach for 2010
Hartford Courant (Conn.), The | 12 days 13 hours 18 minutes ago
Members of the Maryland Racing Commission on Tuesday approved the same number of live racing dates and purses for next year that they had in 2009 at Laurel Park and Pimlico Race Course, but they said possible slots revenue could result in increased purses during the latter half of 2010.
Chickasaw subsidiary discusses plans for Remington - AP Sports News - NOLA.com
Times-Picayune (New Orleans), The | 39 days 9 hours 21 minutes ago
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Design plans revealed for land at Laurel Park
Sun (Baltimore), The | 43 days 19 hours 4 minutes ago
Project could have 10-story buildings with offices, retail and apartments
UPI NewsTrack Sports
United Press International | 41 days 6 hours 19 minutes ago
Goodell casts doubt on Limbaugh bid BOSTON, Miss., Oct.
Shares of Canadian auto supplier Magna jump on better-than-expected 3rd-quarter profit
Orlando Sentinel (Fla.) | 17 days 8 hours 58 minutes ago
NEW YORK (AP) — Shares of Magna International Inc. soared Friday after the Canadian auto supplier said it posted a $51 million third-quarter profit, blowing away Wall Street predictions.
Spanish Opel workers accept deal with Magna - AP - NOLA.com
Times-Picayune (New Orleans), The | 28 days 11 hours 11 minutes ago
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Lone Star back on the auction block
Fort Worth Star-Telegram (Texas) | 39 days 22 hours 50 minutes ago
By GARY WEST gwest@star-telegram.com Lone Star Park was returned to the auction block Wednesday, just a week after its apparent purchase by the Chickasaw Nation of Oklahoma.
Chickasaw Nation increases bid to buy Lone Star Park
Fort Worth Star-Telegram (Texas) | 31 days 7 hours 49 minutes ago
By GARY WEST gwest@star-telegram.com The Chickasaw Nation emerged from Friday’s auction in New York as the designated buyer of Lone Star Park – again.
Chickasaw Nation subsidiary prevails again in reopened Lone Star Park auction
Dallas Morning News, The | 26 days 4 hours 5 minutes ago
A subsidiary of the Chickasaw Nation of Oklahoma has won the bid to purchase Lone Star Park in Grand Prairie, a bankruptcy court judge ruled Wednesday.
Spanish unions reject Magna offer on Opel plant, to consider calling strike
Orlando Sentinel (Fla.) | 35 days 15 hours 5 minutes ago
MADRID (AP) — A Spanish labor representative says unions have rejected Magna's latest offer concerning the future of an Opel plant targeted for job cuts and will vote on calling a strike.
Metropolitan briefs
Dallas Morning News, The | 25 days 19 hours 6 minutes ago
DALLAs County confirms two more West Nile cases Dallas County Health and Human Services confirmed the county's 15th and 16th human cases of West Nile virus on Wednesday.
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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 |
