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Employees at Santa Anita Park fear bankruptcy of its parent company Magna Entertainment Corp (MEC). Chairman Frank Stronach said the horsemen would not have to worry about any of their monies. Paymaster accounts total $11 million at Santa Anita Park. The accounts contain money earmarked for winning owners, who must pay a percentage of those earnings to jockeys and trainers. Magna Entertainment Corp. has lost $500 million in the past 5 years.

https://arcadiahistory.andornot.com/en/permalink/newspaper31396
Newspaper
Pasadena Star News
Date
March 4, 2009
Pages
p. A1, A10
More detail
Newspaper
Pasadena Star News
Date
March 4, 2009
Pages
p. A1, A10
Subjects
Bankruptcy
Magna Entertainment Corp (MEC)
Santa Anita Park - 2001-2010
Stronach, Frank
Item ID
31589AN
Collection
Newspaper Index
Less detail

Magna Entertainment Corp. (MEC), owner of Santa Anita Park, has filed for Chapter 11 bankruptcy protection. Santa Anita Park may be sold to pay off Magna's debts. Frank Stronach paid $126 million for Santa Anita Park in 1996. The track has three potential buyers, including a group from Asia.

https://arcadiahistory.andornot.com/en/permalink/newspaper31399
Newspaper
Pasadena Star News
Date
March 6, 2009
Pages
p. A1, A12
More detail
Newspaper
Pasadena Star News
Date
March 6, 2009
Pages
p. A1, A12
Subjects
Bankruptcy
Economy
Magna Entertainment Corp. (MEC)
Santa Anita Park - 2001-2010
Item ID
31592AN
Collection
Newspaper Index
Less detail

Santa Anita Park's parent company, Magna Entertainment Corp., faces the threat of bankruptcy amid mounting losses and a $600 million debt burden. The current racing season and status are unaffected. Frank Stronach of Magna Entertainment Corp. said he was looking for partners for the track.

https://arcadiahistory.andornot.com/en/permalink/newspaper31390
Newspaper
Pasadena Star News
Date
February 23, 2009
Pages
p. A1, A4
More detail
Newspaper
Pasadena Star News
Date
February 23, 2009
Pages
p. A1, A4
Subjects
Magna Entertainment Corp.
Santa Anita Park - 2001-2010
Stronach, Frank
Item ID
31583AN
Collection
Newspaper Index
Less detail

Developer Rick Caruso, whose stalled $500 million, 820,000 square feet retail project "The Shops at Santa Anita," is planned for Santa Anita Park's south parking lot, said he has "no control" over possible bankruptcy at the race track's parent company, Magna Entertainment Corp. (MEC). Caruso said he was still planning to go ahead with his mall and would "wait and see what happens and deal with it." Any reorganization at Magna Entertainment Corp. may delay the mall plans.

https://arcadiahistory.andornot.com/en/permalink/newspaper31397
Newspaper
Pasadena Star News
Date
March 4, 2009
Pages
p. A1, A10
More detail
Newspaper
Pasadena Star News
Date
March 4, 2009
Pages
p. A1, A10
Subjects
Bankruptcy
Caruso, Rick
Developers
Land use
Magna Entertainment Corp. (MEC)
Malls
Santa Anita Park - 2001-2010
The Shops at Santa Anita
Item ID
31590AN
Collection
Newspaper Index
Less detail

Magna Entertainment Corp. (MEC) attorney Greg Scoggins appeared before a special meeting of the California Horse Racing Board to explain the impact of its bankruptcy. Track employees and horsemen will likely be protected. Satellite wagering locations that receive 2% commission on bets placed through their facilities will likely have to line up in court with other creditors to collect what is owed to them.

https://arcadiahistory.andornot.com/en/permalink/newspaper31405
Newspaper
Pasadena Star News
Date
March 7, 2009
Pages
p. A1, A8
More detail
Newspaper
Pasadena Star News
Date
March 7, 2009
Pages
p. A1, A8
Subjects
Bankruptcy
Magna Entertainment Corp. (MEC)
Santa Anita Park 2001-2010
Scoggins, Greg
Item ID
31598AN
Collection
Newspaper Index
Less detail

Last year it seemed Santa Anita Park might be sold in a bankruptcy auction, but it appears owner Frank Stronach will keep an interest in the track. Under a deal arranged by Stronach's bankrupt Magna Entertainment Corp. (MEC) and its creditors in a Delaware bankruptcy court, ownership of the track would be transferred to MI Development, a real estate holding company controlled by Stronach. If a judge accepts the plan, Stronach would also retain ownership of Golden Gate Fields in the Bay Area, and Gulfstream Park in Florida. Also, it sets up developer Rick Caruso to proceed with building the Shops at Santa Anita mall that is proposed for the track's parking lot.

https://arcadiahistory.andornot.com/en/permalink/newspaper31899
Newspaper
Pasadena Star News
Date
February 13, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
February 13, 2010
Pages
p. A1
Subjects
Bankruptcy
Caruso, Rick
Magna Entertainment Corp. (MEC)
Santa Anita Park - 2001-2010
Shops at Santa Anita
Stronach, Frank
Item ID
32096AN
Collection
Newspaper Index
Less detail

Santa Anita Park's ownership changed hands on April 30 after Frank Stronach's Magna Entertainment Corp. (MEC) transferred many of its assets to Stronach's MI Developments (MID) (one of MEC's creditors), as part of a bankruptcy restructuring plan. Last week MI Developments, a real estate operating company, canceled its 2005 agreement with Caruso Affiliated to develop to the proposed mall known as The Shops at Santa Anita, but this week MI Developments hopes to work out a deal with developer Rick Caruso to build an upscale retail project in the track's parking lot.

https://arcadiahistory.andornot.com/en/permalink/newspaper32030
Newspaper
Pasadena Star News
Date
May 4, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
May 4, 2010
Pages
p. A1
Subjects
Bankruptcy
Caruso Affiliated
Caruso, Rick
Magna Entertainment Corp. (MEC)
MI Developments (MID)
Santa Anita Park--2001-2010--development
Shopping malls
Shops at Santa Anita
Stronach, Frank
Item ID
32227AN
Collection
Newspaper Index
Less detail

The California Horse Racing Board authorized Oak Tree Racing Association to have its traditional fall meet at another thoroughbred venue in Southern California since the association's use of Santa Anita Park is still uncertain. MI Developments, which is chaired by Frank Stronach, recently voided Oak Tree's contract after acquiring the race track from Stronach's Magna Entertainment Corp (MEC) through federal bankruptcy proceedings. Oak Tree's director Sherwood Chillingworth said, "If we can't make a deal with Santa Anita...we can take our dates and run them in Hollywood or Del Mar."

https://arcadiahistory.andornot.com/en/permalink/newspaper32070
Newspaper
Pasadena Star News
Date
May 21, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
May 21, 2010
Pages
p. A1
Subjects
Bankruptcy
Chillingworth, Sherwood
Horse racing
Magna Entertainment Corp. (MEC)
MI Developments (MID)
Oak Tree Racing Association
Santa Anita Park--2001-2010
Stronach, Frank
Item ID
32267AN
Collection
Newspaper Index
Less detail

The Oak Tree Racing Association lost its lease to operate its fall horse racing meet at Santa Anita Park. Oak Tree has operated a fall meet at the track since 1969. Due to bankruptcy restructuring, Frank Stronach's company MI Developments took control of Santa Anita Park from Stronach's Magna Entertainment Corp (MEC). MI Developments wants to negotiate a new lease agreement with Oak Tree for fall racing.

https://arcadiahistory.andornot.com/en/permalink/newspaper32062
Newspaper
Pasadena Star News
Date
May 15, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
May 15, 2010
Pages
p. A1
Subjects
Bankruptcy
Chillingworth, Sherwood
Horse racing
Magna Entertainment Corp. (MEC)
MI Developments (MID)
Oak Tree Racing Association
Santa Anita Park--2001-2010
Stronach, Frank
Item ID
32259AN
Collection
Newspaper Index
Less detail

Since Magna Entertainment Corp., the owner of Santa Anita Park, has filed for Chapter 11 bankruptcy. The race track will be auctioned off in September. That land is zoned for horse racing. Jason Kruckeberg, Arcadia's Development Services Director, said it will remain as a race track.

https://arcadiahistory.andornot.com/en/permalink/newspaper31453
Newspaper
Pasadena Star News
Date
May 5, 2009
Pages
p. A1, A4
More detail
Newspaper
Pasadena Star News
Date
May 5, 2009
Pages
p. A1, A4
Subjects
Auctions
Bankruptcy
Magna Entertainment Corp.
Santa Anita Park - 2001-2010
Stronach, Frank
Item ID
31646AN
Collection
Newspaper Index
Less detail

Magna Entertainment Corp., owner of Santa Anita Park race track, which is in bankruptcy reorganization hearings, filed a plan that would cancel its 2005 agreement with Rick Caruso to develop the 830,000 square feet Shops at Santa Anita on the race track's south parking lot. Caruso filed an objection to the move in bankruptcy court, citing "substantial economic harm" to Santa Anita Associates, LLC, the legal entity that was going to develop the project. Santa Anita LLC has so far invested over $25 million to the project's development. Caruso is committed to developing the project in Arcadia. If the contract is indeed terminated between the parties, Magna would have to start from scratch with new plans, new environmental impact reports, and new hearings to propose another development.

https://arcadiahistory.andornot.com/en/permalink/newspaper31978
Newspaper
Pasadena Star News
Date
April 22, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
April 22, 2010
Pages
p. A1
Subjects
Caruso, Rick
Magna Entertainment Corp.
Santa Anita Associates, LLC
Santa Anita Park--2001-2010--development
Shopping malls
Shops at Santa Anita
Item ID
32175AN
Collection
Newspaper Index
Less detail

Santa Anita Park owner Frank Stronach is coming to town this weekend to meet with local horsemen to talk about the state of the sport. He'll also meet with an engineer to discuss the pros and cons of a proposed new racing surface consisting of dirt, sand, and a small amount of fiber. He says it is a very safe surface. The question remains, who will foot the bill for it, since Stronach's Magna Entertainment Corporation (MEC) filed for Chapter 11 bankruptcy last year.

https://arcadiahistory.andornot.com/en/permalink/newspaper31914
Newspaper
Pasadena Star News
Date
February 26, 2010
Pages
p. C1
More detail
Newspaper
Pasadena Star News
Date
February 26, 2010
Pages
p. C1
Subjects
Horses and horse racing
Magna Entertainment Corporation (MEC)
Race track surfaces
Santa Anita Park - 2001-2010
Stronach, Frank
Synthetic tracks
Item ID
32111AN
Collection
Newspaper Index
Less detail

Since he purchased Santa Anita Park in 1998, Frank Stronach has added five tracks to his stable and grouped them under a spin off company called Magna Entertainment Corp.

https://arcadiahistory.andornot.com/en/permalink/newspaper18585
Newspaper
Pasadena Star News
Date
March 13, 2000
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
March 13, 2000
Pages
p. A1
Subjects
Stronach, Frank
Santa Anita Park
Magna Entertainment Corp.
Item ID
18829AN
Collection
Newspaper Index
Less detail

More than $1.2 million was bet across the state in the first 11 days that computer and telephone betting was approved in this state. It is known as account wagering. There is no way of telling yet if this is affecting attendance and live betting at Santa Anita Park. Two providers of online betting, XpressBet and TV Games, where approved by the California Horse Racing Board. Xpress Bet is owned by Magna Corp., which owns Santa Anita Park.

https://arcadiahistory.andornot.com/en/permalink/newspaper33441
Newspaper
Arcadia Weekly
Date
February 14, 2002
Pages
p. 9
More detail
Newspaper
Arcadia Weekly
Date
February 14, 2002
Pages
p. 9
Subjects
Gambling
Horses and horse racing
Santa Anita Park-2001-2010
Item ID
33637AN
Collection
Newspaper Index
Less detail

Magna Entertainment Corp, owner of Santa Anita Park, is the plaintiff in a lawsuit filed against the State of California. The lawsuit alleges that the compacts between Governor Schwarzenegger and five Indian tribes is illegal.

https://arcadiahistory.andornot.com/en/permalink/newspaper29137
Newspaper
Pasadena Star News
Date
September 18, 2004
Pages
p. A3
More detail
Newspaper
Pasadena Star News
Date
September 18, 2004
Pages
p. A3
Subjects
Magna Entertainment Corp.
Santa Anita Park
Lawsuits
Gaming
Slots
Native American tribes
Item ID
29322AN
Collection
Newspaper Index
Less detail

Santa Anita Park owner Frank Stronach met with about a dozen horse trainers to discuss the track's racing surface. Stronach announced that he would not replace the synthetic Pro-Ride track yet, but will stick with it until he gets the ability to run the track with less state regulations. He wants free enterprise, which he may never get. In the meantime, drainage problems and injuries persist on the synthetic track. Stronach said he'd be back in April to discuss the issue more.

https://arcadiahistory.andornot.com/en/permalink/newspaper31919
Newspaper
Pasadena Star News
Date
March 2, 2010
Pages
p. B1
More detail
Newspaper
Pasadena Star News
Date
March 2, 2010
Pages
p. B1
Subjects
Horses and horse racing
Magna Entertainment Corporation (MEC)
Race track surfaces
Santa Anita Park - 2001 - 2010
Stronach, Frank
Synthetic tracks
Item ID
32116AN
Collection
Newspaper Index
Less detail

Santa Anita Park race track's CEO and President Ron Charles said Santa Anita Park race track will not be sold to help Magnum Entertainment Corporation eliminate a $600-million-plus debt. However, Santa Anita Park race track is entertaining discussions with Magnum Entertainment Corporation concerning potential partnerships or joint ventures on a minority interest basis. Includes a historical timeline.

https://arcadiahistory.andornot.com/en/permalink/newspaper30716
Newspaper
Pasadena Star News
Date
September 15, 2007
Pages
p. News 1
More detail
Newspaper
Pasadena Star News
Date
September 15, 2007
Pages
p. News 1
Subjects
Magnum Entertainment Corporation
Santa Anita Park - 2001-2010 - history
Item ID
30904AN
Collection
Newspaper Index
Less detail

Santa Anita Park president Jack Liebau recently resigned because of disagreements with Magna Entertainment's Frank Stronach over the direction the track is headed.

https://arcadiahistory.andornot.com/en/permalink/newspaper27465
Newspaper
Pasadena Star News
Date
January 28, 2004
Pages
p. C1
More detail
Newspaper
Pasadena Star News
Date
January 28, 2004
Pages
p. C1
Subjects
Santa Anita Park 2001 - 2010
Liebau, Jack
Item ID
27662AN
Collection
Newspaper Index
Less detail

Trainers and owners found to have sent injured or retired racehorses to slaughter will be banned from running or stabling horses at Santa Anita Park under a new policy from Magna Entertainment Corporation. Santa Anita Park President Ron Charles hopes to ensure the safety of its racehorses by monitoring injured or retired horses and keeping dealers known to sell horses for slaughter off the property. The policy was entered into the track's horseman's agreement, which governs racing terms and conditions.

https://arcadiahistory.andornot.com/en/permalink/newspaper31307
Newspaper
Pasadena Star News
Date
December 1, 2008
Pages
p. A1, A4
More detail
Newspaper
Pasadena Star News
Date
December 1, 2008
Pages
p. A1, A4
Subjects
Charles, Ron
Gray, Leigh
Horses and horse racing
Magna Entertainment Corporation
Safety policies
Santa Anita Park - 2001-2010
Thoroughbred Rehab Center
Item ID
31502AN
Collection
Newspaper Index
Less detail

Developer Rick Caruso of Caruso Affiliated is no longer pursuing a deal with Santa Anita Park owners MI Developments to develop an outdoor mall in the race track's parking lot. The project was known as The Shops at Santa Anita. Caruso said, "We're not pursuing it, because of the (Magna Entertainment Corp.) bankruptcy...and everything else." Arcadia city councilman Mickey Segal said it's a loss of "a projected $2.5 million to $3 million of revenue (each year) to the city" in sales and property tax.

https://arcadiahistory.andornot.com/en/permalink/newspaper32406
Newspaper
Pasadena Star News
Date
May 21, 2011
Pages
p. A1, A6
More detail
Newspaper
Pasadena Star News
Date
May 21, 2011
Pages
p. A1, A6
Subjects
Caruso Affiliated
Caruso, Rick
Malls
MI Developments
Santa Anita Park race track parking lot
Shops at Santa Anita
Item ID
32604AN
Collection
Newspaper Index
Less detail

20 records – page 1 of 1.