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.
Asian night markets share a common language: food. Evening events draw thousands to LA, Orange, and San Diego counties. In 2012, the first 626 Night Market took place at Old Town Pasadena. Then the event moved to Santa Anita Park in Arcadia and it has become a signature event, becoming kind of synonymous with Arcadia, says Jason Kruckeberg, assistant City Manager, and Development Services Director.
Santa Anita Park has apologized for dumping 15,000 gallons of waste water containing manure, straw and other items into the Arcadia wash two months ago.
In a strongly worded letter to Canadian mogul Frank Stronach, Arcadia city officials urged Santa Anita Park's owner to work with developer Rick Caruso and finish the proposed upscale Shops at Santa Anita mall project that has been in the works for the last five years. Stronach's MI Developments (MID) voided its contract with Caruso following bankruptcy restructuring at Santa Anita Park. In a further flexing of city muscle, the letter stated that it "looks forward to working with the race track in future projects that require City approval."
Businessman Frank Stronach, who announced he is buying Santa Anita Park, has stated that his vision for developing the land is drastically different than Santa Anita's current proposal.
The temporary shutting down of horse racing at Santa Anita Park, due to drainage issues associated with its Cushion Track, has slowed food, beverage and merchandise sales on site. The City of Arcadia, which receives a portion of each ticket sold, has cause for concern.
City council members refute charges that they met in private with a developer and property owner. Arcadia councilman Bob Harbicht said council did not meet in closed sessions, but met only with city staff to discuss land located in the parking lot of Santa Anita Park. The Council has never met privately with Caruso Affiliated or Magna Entertainment.
Trouble at Santa Anita Park. According to figures taken from Equibase, Santa Anita Park's total handle was down $77.1 million, or 17.7% from a year ago. If the current trend continues, the track's all-sources handle could show a decline of more than $100 million for the 2010-2011 meet. George Haines, the president of Santa Anita Park, has other troubles, including some wet weather, a players' boycott, and the inconsistencies of a new dirt racing surface.
If Oak Tree is not held at Santa Anita Park this fall, as it has for the last 41 years, it would be a significant hit to the city of Arcadia and the region, city officials said. Last year, the city of Arcadia made $185,000 from the Oak Tree meet's betting handle. In addition, the city would suffer the loss of tens of thousands of dollars in sales tax and hotel bed tax revenue. The California Horse Racing Board (CHRB) denied Oak Tree Racing Association's request to run its five-week fall meet at Santa Anita Park after horse owners, trainers, and a racetrack expert expressed concerns about the synthetic surface. Oak Tree officials say they are moving forward to make arrangements to run the meet at Hollywood Park.
Sounding bitter complaints about a construction project at Santa Anita Park that is halfway finished, nearly a dozen residents and preservationists appeared at Tueday's City Council meeting to criticize the city's approval of the project.
Santa Anita Park has live-racing for the first time on the same day as Kentucky Derby. The track will be rooting for Santa Anita Derby winner California Chrome, a California-bred race horse.
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.
Frank Stronach, founder and chairman of the board of Magna International Inc., is buying Santa Anita Park from Meditrust. The $126 million purchase is expected to close today.
Multibillion dollar businessman and horse owner, Frank Stronach, has signed a letter of intent for his auto systems company, Magna International Inc., to buy Santa Anita Park
A drainage problem forced the cancellation of horse racing at Santa Anita Park since three inches of rain fell yesterday. The track has had to cancel racing 12 times since the synthetic track was installed two years ago. In 2006, the California Horse Racing Board banned dirt surfaces from thoroughbred tracks. Santa Anita Park has tried two synthetic tracks but the surfaces have not worked out. Officials announced they will replace the synthetic surface before the Oak Tree Meet in the fall.