MAGNA: Desperate hours fast approaching..

[Travis Stone]

Originally Posted by infield_line

if the whole economy was not in collapse, you could imagine taking key tracks private with a LLC funded by horseplayers/owners/breeders....

Racetrack ownership is a brutal way to jump into this business. The model racing lives on is rather flawed. It's exactly why other major gambling operations weren't busting down doors to buy tracks until the ching-ching slot machine came along.

[Left Bank]

Originally Posted by Travis Stone

Racetrack ownership is a brutal way to jump into this business. The model racing lives on is rather flawed. It's exactly why other major gambling operations weren't busting down doors to buy tracks until the ching-ching slot machine came along.

True statement,but now it is time for all the big shots who have been shooting their mouths off about buying racetracks to "Walk the walk".They now have their choice of some prime racing facilities and dates to buy,and most likely could come close to naming their own terms/price.It will be interesting to see who steps up to the plate

[Kasept]

Magna Chapter 11 Filing Does Number on Racing
By Andrew Beyer

http://www.washingtonpost.com/wp-dyn...030601833.html

HALLANDALE BEACH, Fla. The bankruptcy of the Magna Entertainment Corp. -- owner of some of America's most famous racetracks -- was not another case of a company ruined by executive greed. On the contrary.