The fate of Santa Anita Park remained up in the air following a sudden management shake up at its corporate parent, Meditrust Cos. Meditrust Chairman and CEO Abraham Gosman resigned Tuesday.
Officials with the Santa Anita Companies, owners of the race track and Santa Anita Fashion Park, have filed a formal application with the City of Arcadia to build a new 100-acre entertainment center on its property.
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.
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."
The Santa Anita Companies and AMC Theatres announced a definitive agreement for AMC to build a 25 screen multiplex adjacent to the Santa Anita Park race track and Fashion Park Mall.
The Santa Anita Companies and Meditrust, the nation's largest health-care real estate investment trust, have completed a $383 million deal to merge the two companies.
The Santa Anita Cos., Monday reaffirmed its commitment to the previously announced strategic alliance with Colony Capital and its affiliates, saying that a rival bid by Newport Beach based Koll Arcadia Investors was "incomplete."
Santa Anita Companies have submitted a down-scaled entertainment complex with the new proposal for developing the South parking lot of the Santa Anita Park race track property.
Summary of a vintage promotional booklet about Santa Anita Park havings its inaugural race on Christmas Day, December 25, 1934. At the time, Los Angeles Turf Club Inc. was the owner and operator of Santa Anita Park and there were 53 racing days that first season. Charter stockholder and membership requirements are discussed.
International businessman and horse owner Frank Stronach confirmed Tuesday that he and Meditrust, the parent company of Santa Anita Park, have signed a letter of intent under which he will buy the race track.
Officials at Santa Anita Companies announced Monday that they have sealed a deal to finance the construction and, if the law changes, become the majority owner in the proposed Irwindale Palace Casino.
Santa Anita Companies has announced earnings for the year ending December 31, 1981. Revenues were up 23.5%. Shares of the two companies, Santa Anita Operating Company and Santa Anita Realty Enterprises, Inc., are offered on the New York Stock Exchange under the name Santa Anita Realty Enterprises.
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.
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.
Live racing returns to Santa Anita Park for its Autumn Meet, which runs September 30-November 6, 2011. This fall features racing on Thursdays through Sundays.