Magna Entertainment Corp.
News and overview for Magna Entertainment Corp.
Star announces major restructuring - thestar.com
Toronto Star, The | 20 days 12 hours 50 minutes ago
The Toronto Star has launched what its publisher is saying will likely be the biggest restructuring in the newspaper's history by offering voluntary buyouts to employees in all divisions of the company.
Markets up as Fed pledges low rates - thestar.com
Toronto Star, The | 19 days 16 hours 40 minutes ago
North American stock markets were positive Wednesday afternoon after the U.S. Federal Reserve said it would leave rates at near zero "for an extended period" to encourage a fragile economic recovery.
Commodities lead TSX higher - thestar.com
Toronto Star, The | 18 days 20 hours 35 minutes ago
The Toronto stock market was slightly higher Thursday thanks to advancing mining stocks.
Actuaries propose a strategy to bolster pensions - thestar.com
Toronto Star, The | 19 days 2 hours 28 minutes ago
The best pension plans are vanishing. Many employers simply cannot hold up their end of what has become a one-sided deal.
GM chief says Opel sale may come this week - AP - NOLA.com
Times-Picayune (New Orleans), The | 42 days 4 hours 3 minutes ago
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TSX advances as bank revises forecast - thestar.com
Toronto Star, The | 34 days 21 hours 41 minutes ago
The Toronto stock market was ahead slightly mid-morning Tuesday thanks largely to gains in the mining sector while investors took in the latest warning of how the higher dollar is holding back economic growth.
Droid cellphone Motorola's latest effort to regain market share
Edmonton Journal (Canada), The | 19 days 8 hours 8 minutes ago
No Jedi mind tricks here, this is indeed the Droid that Motorola Inc. has been looking for.On Wednesday, Motorola revealed that its most anticipated cellphone since the launch of the popular Razr in 2004 -- the Droid -- will launch with Verizon Wireless in the U.S. on Nov. 6. No Canadian carrier has been confirmed.
ADP says U.S. companies cut estimated 203,000 jobs
Edmonton Journal (Canada), The | 19 days 6 hours 10 minutes ago
Companies in the United States cut an estimated 203,000 jobs in October, according to a private report based on payroll data.The drop compares with a revised 227,000 decline the prior month, data from ADP Employer Services showed on Wednesday. The figures were forecast to show a decline of 198,000 jobs, according to the median estimate of 34 economists in a Bloomberg survey.
Cash Store to offer new banking services
Edmonton Journal (Canada), The | 20 days 2 hours 43 minutes ago
EDMONTON Cash Store Financial will offer some banking services through an agency agreement with chartered financial institution DirectCash Bank, the Edmonton-based payday advance broker said Thursday.
Severe wind warning issued for Edmonton area
Edmonton Journal (Canada), The | 18 days 23 hours 49 minutes ago
EDMONTON Environment Canada has issued a severe wind warning for Edmonton, St. Albert and Sherwood Park for Tuesday afternoon and evening.A low pressure system is forecast to move southeastward across north central Alberta on Tuesday.
Construction giant crowns new CEO
Edmonton Journal (Canada), The | 19 days 5 hours 19 minutes ago
It wasn't a coronation, exactly, but it wasn't far off.By succeeding Ross Grieve as CEO, Paul Douglas becomes just the seventh corporate boss to lead PCL in its storied 103-year history.Think about that.
Gender bias exists, it's just harder to see
Edmonton Journal (Canada), The | 19 days 4 hours ago
Women have come a long way in the workplace, helped by legislation and the recognition by many companies that diversity and gender is something they should "get."However, diversity's move into the mainstream corporate world has its disadvantages. It can make more subtle discrimination harder to spot and tougher to deal with.
Bank regulators: real estate loans biggest concern - AP - NOLA.com
Times-Picayune (New Orleans), The | 40 days 17 hours 26 minutes ago
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TSX closes flat - thestar.com
Toronto Star, The | 41 days 16 hours 1 minute ago
The Toronto stock market closed slightly lower Tuesday, supported by commodity stocks on advancing oil prices and record high gold prices and pulled down by financial stocks in the wake of a downgrade in the American banking sector.
China orders up to 36 pct tariffs on nylon imports - AP - NOLA.com
Times-Picayune (New Orleans), The | 35 days 45 minutes ago
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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 |
