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Stronach Pledges $1 Billion to New York Racing

NEW YORK – As reported by the Thoroughbred Times: "Frank Stronach, founder and chairman of racetrack conglomerate Magna Entertainment Corp., sat with Cindy Adams at the Preakness Stakes (G1) and told the New York Post society columnist, "New York should be the center of racing. Not Kentucky or anyplace else. New York. To make that happen, I am prepared to invest a billion dollars."

"Magna Entertainment already owns 15 tracks, including 11 Thoroughbred tracks, but Stronach is interested in entering into a partnership with the New York Racing Association to operate Aqueduct, Belmont Park, and Saratoga Race Course.

"'Your Belmont is old and run down, built back when people had no choice about what to put up,' Stronach told Adams. 'I want to create a whole new facility—a major entertainment destination center for the entire family. Track for the father, mall for the mother, games for the kids, adjacent Vegas-style hotel with big-name concerts, and I'll build up the back end: stables, dorms, housing, training center for the people.'…"

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