Santa Anita Park concluded its 2002-2003 season on April 20 with a total of more than $1 billion wagered during the 85-day meet. Average daily handle was $11.8 million, representing a decrease of approximately 2% from 2002.
With the winter-spring racing season less than three weeks old, Santa Anita Park has laid off parimutuel and other workers, and track owner Frank Stonach is being publically chastised for his leadership style.
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.
Oak Tree at Santa Anita Park will host the Breeders' Cup World Championships today and tomorrow, bringing most of the best thoroughbreds in the world together for 14 races with a record $25.5 million in purses. Local businesses hope to get a financial boost from the evevnt.
Horse racing at Fairplex Park started its 64th season at the Los Angeles County Fair. Earlier this summer officials proposed moving the races to Santa Anita Park. The California horse Racing Board denied their request on June 26.
Santa Anita Park officials blamed February's rain for a 12.8 percent drop in average daily attendance at Santa Anita Park, but were heartened because the total money bet on and off track soared to a record of more than $1 billion.
Santa Anita Park was named last week to a list of "America's 11 Most Endangered Places" because of owner Frank Stronach's plans to create a retail-entertainment center in the historic race track.
Opening day of its 72nd season of thoroughbred racing at Santa Anita Park brought in 33,112 fans. Santa Anita Park officials were pleased with the turnout.
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.
Jockey Garrett Gomez, one of the nation's top riders, will be in the saddle at the start of Santa Anita Park's 2005-2006 season. A profile of the jockey is presented.
The City Council gave a first reading to an ordinance that would allow the FrontRunner restaurant at Santa Anita Park race track to be open year round instead of just during the race season.