Stronach´s Magna Entertainment Corp. MIEC - 500 Beiträge pro Seite

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Press Release

TORONTO, Aug 16, 2002 (Canada NewsWire via COMTEX) -- Fair Enterprise Limited of 1 Seaton Place St. Helier, Jersey, Channel Islands, JE48YJ announced that it has acquired, through the facilities of the Toronto Stock Exchange and Nasdaq, 945,000 shares of Class A Subordinate Voting Stock of Magna Entertainment Corp. representing approximately 2% of the outstanding Class A Subordinate Voting Shares of Magna Entertainment Corp. As a result of the acquisition of these shares Fair Enterprise Limited owns 2,831,200 or 5.8% of the shares of Class A Subordinate Voting Stock of Magna Entertainment Corp.

All of the shares of Fair Enterprise Limited are owned by the Bergenie Anstalt, an associate of Mr. Frank Stronach. Mr. Stronach shares in the direction over these shares. Including these shares Mr. Stronach owns, or controls or exercises direction or control over a total of 9,004,179 or approximately 18.5% of the shares of Class A Subordinate Voting Stock of Magna Entertainment Corp. (including options and shares exchangeable for shares of Class A Stock).

Fair Enterprise has acquired these shares for investment purposes, and may depending on circumstances and as permitted, acquire additional shares of Magna Entertainment Corp. in the future. Certain affiliates and associates of Fair Enterprise Limited may be presumed to be joint actors with Fair Enterprise Limited. The filing of this news release however, is not an admission that any entity described above is a joint actor with any other entity

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MAGNA ENTERTAINMENT CORP. - Resignation of Two Directors

Toronto, Ontario, Aug 19, 2002 (Market News Publishing via COMTEX) -- Magna Entertainment Corp. announced the resignations of Mr. Joseph Harper and Mr. Terrence Lanni from its Board of Directors. Mr. Harper`s resignation was effective August 7, 2002 and Mr. Lanni`s resignation is effective on August 31, 2002.

In announcing the resignations, Frank Stronach, MEC`s Chairman, expressed the appreciation of the entire Board to Messrs. Harper and Lanni for their significant contributions to Board deliberations during MEC`s formative years.

In delivering his resignation, Mr. Harper stated that he had very much enjoyed his term on the MEC Board but that, as President of a competing racetrack in the California market, he felt it appropriate to withdraw from his involvement with MEC at this time.

In tendering his resignation, Mr. Lanni noted that the ever-growing time constraints due to his responsibilities as Chairman of the Board and Chief Executive Officer of MGM Mirage leave him no choice but to resign.

Each of Messrs. Harper and Lanni extended his best wishes to Mr. Stronach and MEC`s management team as they pursue the company`s business plan.

Mr. Stronach stated that the MEC Board will consider replacements for Messrs. Harper and Lanni at the Board`s next scheduled meeting in late October.

MEC, one of the largest operators of premier horse race tracks in the United States, acquires, develops and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities, and owns and operates a national account wagering system called XpressBet(tm).

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[img]http://host.wallstreetcity.com/wsc2/GR-d-MIEC-461293-0-1-0-2…

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Magna Entertainment Corp. announces application for new racetrack in the Detroit area
THURSDAY, AUGUST 29, 2002 4:51 PM
- PRNewswire

AURORA, ON, Aug 29, 2002 /PRNewswire-FirstCall via COMTEX/ -- Magna Entertainment Corp. ("MEC") (MIEC) (CA:MIE.A) (MEH) today announced that its wholly-owned subsidiary, Michigan Racing, Inc., has filed an application with the Michigan Racing Commissioner`s Office for a license to construct a racetrack in the Greater Detroit area. The proposed site for the new racetrack is in the City of Romulus, Michigan, on a property which is situated less than two miles from the Detroit Metropolitan Airport and less than 25 miles from the center of the business districts of both Detroit and Ann Arbor. The proposed new track would be a dual-purpose facility which could host both thoroughbred and standardbred racing. The issuance of a license is subject to the review and approval of the application by the Michigan Racing Commissioner, Annette Bacola.

Jim McAlpine, President and Chief Executive Officer of MEC, remarked: "We have always viewed Michigan as an important market for horse racing and the Detroit metroplex as the ideal location for the development of a modern racetrack facility. Michigan horse owners and breeders of all types have expressed a keen interest in working with MEC in the development of a new racetrack facility in this area. The population base in the area is also strongly supportive of various sporting and gaming initiatives. We are hopeful that our application will be viewed favorably and look forward to working with the City of Romulus, the Office of the Racing Commissioner and the Michigan horse industry in order to successfully complete this project. Once appropriate approvals are obtained, we will phase the development within our multi-year capital expenditure program."

MEC, one of the largest operators of premier horse racetracks in the United States, acquires, develops and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities ("OTBs"), and owns and operates a national account wagering system called XpressBet(TM).

SOURCE Magna Entertainment Corp

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30.09.2002
Magna Entertainm. spekulativ kaufen
INSIDER TRADING

Die Experten des Börsenbriefs "INSIDER TRADING" bewerten die Magna Entertainment-Aktie (WKN 935274) mit "spekulativ kaufen".

Das Unternehmen sei im Wettgeschäft tätig und betreibe neun Rennstrecken für Pferderennen und eine Hunderennbahn mit daran angeschlossenen Wettbüros und halte ein Drittel an einem Pay-TV-Projekt, welches Rennen für zahlende Abonnenten übertrage.

Gerade die Glücksspiel- und Wettbranche habe sich paradoxerweise als eine relativ konjunkturunabhängige Sparte erwiesen. Wegen des regen Insiderhandels, Magna-Chairman Frank Stronach habe seit August für über 7,2 Mio. US-Dollar eigene Aktien, halte man die Notierung für interessant.

Die Empfehlung der Experten von "INSIDER TRADING" für Magna Entertainment lautet "spekulativ kaufen".