Magna Entertainment Corp.

News and overview for Magna Entertainment Corp.

AP Sources: GM Europe Chief Executive Carl-Peter Forster to leave post
Hartford Courant (Conn.), The | 16 days 23 hours 38 minutes ago
DETROIT (AP) — Two people briefed on the decision say Carl-Peter Forster, the chief executive of General Motors Europe, will leave the company.


GM's Reilly will lead Opel/Vauxhall operations - MarketWatch
MarketWatch | 12 days 22 hours 5 minutes ago
The news comes after GM announced on Friday that Carl-Peter Forster, president of Opel Europe, will leave his position as head of European operations.


Rentrak Names New Chief Operating Officer and CFO [Press Release]
PRNewswire | 52 days 17 hours 8 minutes ago
...Interactive Software Corp., a Nasdaq-listed...Chemerow was with Primerica Corp., formerly known as...where he graduated Magna Cum Laude with Highest...Dunham's Athleisure Corp., a sporting goods...recognizable names in the entertainment industry. Reaching across...


TSX runs ahead on Magna, gold - thestar.com
Toronto Star, The | 16 days 17 hours 42 minutes ago
Gold stocks helped keep the Toronto stock market ahead Friday afternoon despite employment reports for October that came in much worse than expected.


Global Update: Who's Where and Doing What - October 2009.
4Hoteliers | 8 hours 56 minutes ago
Global update of who is moving where and from where - keep track of old colleagues and friends or find lost ones, brought to you by The Boutique Search Firm.


Frank Stronach sought CAW bailout, Hargrove says - thestar.com
Toronto Star, The | 35 days 1 hour 37 minutes ago
THE BUZZ FROM BUZZ ON ...


Frank Stronach sought CAW bailout - thestar.com
Toronto Star, The | 35 days 6 hours 8 minutes ago
THE BUZZ FROM BUZZ ON ...


GM to decide on European plants within 2 weeks - AP - NOLA.com
Times-Picayune (New Orleans), The | 6 days 16 hours 35 minutes ago
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Gold stocks send TSX higher - thestar.com
Toronto Star, The | 16 days 15 hours 33 minutes ago
The Toronto stock market advanced Friday as investors dealt with dismal employment data from Canada and the United States and as gold stocks continued to run ahead amid record high bullion prices.


US HOT STOCKS: Whole Foods, Hot Topic Active In Late Trading
Wall Street Journal, The | 18 days 15 hours 24 minutes ago
U.S. stocks closed mixed Wednesday as the Dow Jones Industrial Average gained 30 points to 9802, the S&P 500 edged up 1 point to 1046 and the Nasdaq Composite slipped 2 points to 2055. Among the companies whose shares are active in late trading are Whole Foods Market Inc, (WFMI), Hot Topic Inc. (HOTT) and Cisco Systems Inc. (CSCO).


US HOT STOCKS: RadioShack Active in Late Trading
Wall Street Journal, The | 16 days 15 hours 27 minutes ago
U.S. stocks ended higher Friday as the Dow Jones Industrial Average rose 17.46 points to 10023.42, the S&P 500 climbed 2.67 points to 1069.30 and the Nasdaq Composite gained 7.12 points to 2112.44. Among the companies whose shares are actively trading in the after-hours session are RadioShack Corp. (RSH) and Sun Microsystems Inc. (JAVA).


Fort Worth-based Rapid Reporting being bought by Equifax in $72 million deal
Fort Worth Star-Telegram (Texas) | 7 days 10 hours 18 minutes ago
By JOHN AUSTIN jaustin@star-telegram.com FORT WORTH Not long ago, mortgage companies had to wait weeks for income confirmation from the IRS, meaning that a buyer could land a home loan with less documentation than it took to get a library card.


Markets little changed on weak employment data - thestar.com
Toronto Star, The | 16 days 21 hours 48 minutes ago
The Toronto stock market was slightly higher late Friday morning, held aloft by rising gold stocks as bullion continued to advance.


Markets higher as investors encouraged by U.S. earnings - thestar.com
Toronto Star, The | 31 days 19 hours 1 minute ago
The Toronto stock market was higher Thursday afternoon, led by gains in consumer discretionary and bank stocks.


Markets open higher ahead of Fed announcement - thestar.com
Toronto Star, The | 18 days 22 hours 39 minutes ago
The Toronto stock market moved higher Wednesday morning as commodity prices rose ahead of an afternoon announcement by the U.S. Federal Reserve on interest rates and the central bank's latest appraisal of the economy.





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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