Gaming News

MEC, Horsemen's Group in talks

AURORA, Ontario -- (PRESS RELEASE) -- Magna Entertainment Corp. ("MEC") (NASDAQ: MECA) announced today that it is in continuing discussions with the Thoroughbred Horsemen's Group ("THG") aimed at improving the economic condition of the Horse Racing Industry through the development of more equitable pricing and distribution models for advanced deposit wagering.

Frank Stronach, MEC Chairman and Chief Executive Officer commented: "We welcome the opportunity to work with the THG as a national agency assisting local horsemen's groups. We are having very constructive conversations with Bob Reeves and Wilson Shirley of the THG. We all understand horseracing faces major challenges, and I personally believe that a national horsemen group could be very beneficial in addressing major national issues like advanced deposit wagering pricing and distribution strategy. I am hopeful that in the near future, we will develop a new framework which will improve the economics of the horseracing industry for both race tracks and horse owners."

< Gaming News