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Magna reports two month decline18 August 2010The latest quarterly report shows that Magna Entertainment lost $6.2 million in the first two months it was owned by MI Development, Bloodhorse reported. The loss was attributed to the "seasonal nature of our racing and gaming business and lower average daily revenue at many racetracks" amongst other things, Bloodhorse quoted from the quarterly report. MI Development took over Magna assets April 30, 2010, The Bloodhorse report noted. |