May 19, 2007 |
Gemstar-TV Guide International Inc.'s TVG horse racing network sued track owner Magna Entertainment Corp. and two subsidiaries over patents for interactive betting. Also sued were HRTV, which also runs a horse racing TV network, and the XpressBet Inc. wagering business. The suit, filed in federal court in L.A., claims that the companies infringe on two patents related to systems that let users bet on races by remote control through their TVs.
April 25, 2009
Regarding Bill Dwyre's April 21 column about horse racing: Rookie Kentucky Derby rider Joe Talamo and his mount (I Want Revenge) will get knocked around from pillar to post. Too much trouble to win. Jeff Mullins' fine in New York is a slap on the wrist. Horse racing in Southern California has been around for 75-plus years, and has endured tougher times than these, World War II for one. Oh, things will change, but like the old adage, the more things change the more they stay the same.
November 12, 2005 |
Magna Entertainment Corp., owner of Santa Anita, Gulfstream Park and several other tracks, is selling the Meadows, a harness-track in the Pittsburgh suburbs, for $225 million. The sale of the Meadows was announced as Magna's third-quarter report showed that the Canadian-based company had lost $34.5 million, compared to a deficit of $50.3 million for the same three months a year ago. Magna's losses since 2002 have been almost $280 million.
March 6, 2009 |
Magna Entertainment Corp., the troubled owner of Santa Anita Park in Arcadia and six other major thoroughbred horse racing venues, filed for bankruptcy protection Thursday after defaulting on conditions of a bank loan. The move puts pressure on the Canadian company to sell its storied racetracks, which also include Pimlico Race Course in Baltimore, home of the Preakness Stakes. Magna's financial problems are long-standing.
September 14, 2007 |
The Canadian owner of Santa Anita Park may put the famous horse-racing venue in Arcadia up for sale as it struggles to be profitable in the troubled racing industry. Magna Entertainment Corp., which has owned Santa Anita for almost a decade, announced Thursday that it planned to sell several assets and perhaps issue new stock in the hope of eliminating as much as $700 million worth of debt. The Aurora, Ontario-based company said it would sell real estate in Maryland, Florida, Ohio and Oregon.
March 6, 2007 |
Churchill Downs and Magna Entertainment Corp., the two biggest North American racetrack owners, Monday announced an agreement to partner in television, simulcasting and advance deposit wagering in a joint venture called TrackNet Media. As part of the deal, Churchill Downs has bought a 50% interest in HorseRacing Television, which means that races from Churchill-owned tracks will be available on HRTV, which has not previously been the case.