Magna Entertainment Corp.
News and overview for Magna Entertainment Corp.
Markets little changed on weak employment data - thestar.com
Toronto Star, The | 17 days 11 hours 8 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 | 32 days 8 hours 21 minutes 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 | 19 days 11 hours 59 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.
US HOT STOCKS: Starbucks, Hansen Natural, Fannie Mae
Wall Street Journal, The | 17 days 11 hours 47 minutes ago
U.S. stocks climbed Friday as the Dow Jones Industrial Average rose 25 points to 10030, the S&P 500 gained 3
GM throws laid-off staff a $90M lifeline - thestar.com
Toronto Star, The | 14 days 18 hours 25 minutes ago
OTTAWA General Motors is to announce Monday a $90-million investment in the CAMI plant in Ingersoll, east of London, Ont. where the popular Chevrolet Equinox and GMC Terrain crossover models are built, the Toronto Star has learned.
GM ramps up Ingersoll plant - thestar.com
Toronto Star, The | 14 days 16 hours 21 minutes ago
OTTAWA General Motors is to announce Monday a $90-million investment in the CAMI plant in Ingersoll, east of London, Ont. where the popular Chevrolet Equinox and GMC Terrain crossover models are built, the Toronto Star has learned.
Setbacks slow Bruce Power reactor restarts - thestar.com
Toronto Star, The | 18 days 18 hours 14 minutes ago
First the cost overrun was announced. Now it's the dreaded delay.
US HOT STOCKS: GE, AIG, Sunoco, Starbucks, Fannie Mae
Wall Street Journal, The | 17 days 7 hours 44 minutes ago
U.S. stocks traded higher Friday as the Dow Jones Industrial Average rose 4 points to 10009, the S&P 500 climbed 1 point to 1068 and the Nasdaq Composite gained 4 points to 2109. Among the companies whose shares are actively trading in the session are General Electric Co. (GE), American International Group Inc. (AIG) and Sunoco Inc. (SUN).
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Edmonton Journal (Canada), The | 42 days 5 hours 22 minutes ago
HEAVY-OIL ASSETS SOLDCALGARY / Southern Pacific Resource Corp. said it will pay a public oil-and-gas company about $90 million for producing heavy-oil interests in a deal that will complement its STP-McKay oilsands project.
Record high gold helps push TSX higher - thestar.com
Toronto Star, The | 20 days 3 hours 46 minutes ago
The Toronto stock market closed higher Tuesday but the rise was mainly due to gold surging to a record high close, railway stocks that benefited from major acquisition activity south of the border and higher oil prices.
Markets to open higher ahead of Fed rate decision - thestar.com
Toronto Star, The | 19 days 13 hours 52 minutes ago
North American stock markets were likely in for a higher opening Wednesday ahead of an afternoon announcement by the U.S. Federal Reserve on interest rates and the central bank's latest appraisal of the economy.
Stocks up as positive U.S. data piles up - thestar.com
Toronto Star, The | 19 days 10 hours 4 minutes ago
The Toronto stock market piled on the gains late Wednesday morning as stronger reports on the U.S. service sector and employment boosted optimism about the American economy.
Manulife, Sun Life post 3Q losses - thestar.com
Toronto Star, The | 18 days 10 hours 7 minutes ago
Two of Canada's biggest insurance companies warned Thursday that stock market volatility, interest rates and credit spreads could continue to hamper their financial results after each posted a net loss for the third quarter.
Bell, Telus launch high-speed networks - thestar.com
Toronto Star, The | 20 days 3 hours 45 minutes ago
The end of Rogers' iPhone monopoly is drawing near, as its two main Canadian rivals prepare to launch their next-generation wireless network this week.
Timothy Collins's RHJ Buys Kleinwort Benson of U.K. to Build Banking Brand
Bloomberg | 39 days 16 hours 51 minutes ago
Oct. 15 (Bloomberg) -- RHJ International SA agreed to buy Kleinwort Benson, the U.K. private bank that traces its roots to the 1850s, from Commerzbank AG for 225 million pounds ($362 million) as the firm begins to build a financial services brand.
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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 |
