Magna Entertainment Corp. – Media Release
AURORA, ON, Oct. 10, 2008 /PRNewswire-FirstCall/ — Magna Entertainment Corp. (“MEC” or the “Company”) (NASDAQ: MECA; TSX: MEC.A) announced today that it has recently formally adopted a company-wide policy promoting the humane treatment of racehorses. Under the policy, any trainer or owner stabling at an MEC facility who directly or indirectly participates in the transport of a horse from an MEC facility to either a slaughterhouse or an auction house engaged in selling horses for slaughter will be prohibited from having stalls at any MEC facility. The policy also applies to any actions related to the transport of a horse from an MEC facility where the ultimate intended result is the horse’s slaughter.
Ron Charles, Chief Operating Officer of MEC and President of Santa Anita Park, commented: “MEC is extremely pleased to formally adopt a policy to further encourage the humane treatment of racehorses. We intend this to be one in a series of steps that will be taken in an effort to protect our equine athletes. Consistent with the long-standing vision of Frank Stronach and management at our racetracks, the policy signifies the Company’s strong intent to deal only with those trainers and owners who have the welfare of racehorses as their primary concern.”
Frank Stronach, Chairman and Chief Executive Officer of MEC commented, “Since the inception of MEC, we have taken care to protect the health and safety of customers, workers and equine athletes participating in activities at all of our facilities. The goal of the policy is to forewarn industry participants who participate in the slaughter of racehorses that they are not welcome at any of our facilities across the country. I hope other racetrack owners formally adopt similar policies”.
MEC, North America’s largest owner and operator of horse racetracks, based on revenue, develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. MEC also develops, owns and operates casinos in conjunction with its racetracks where permitted by law. MEC owns and operates AmTote International, Inc., a provider of totalisator services to the pari-mutuel industry, XpressBet(R), a national Internet and telephone account wagering system, as well as MagnaBet(TM) internationally. Pursuant to joint ventures, MEC has a fifty percent interest in HorseRacing TV(R), a 24-hour horse racing television network, and TrackNet Media Group LLC, a content management company formed for distribution of the full breadth of MEC’s horse racing content.
SOURCE: Magna Entertainment Corp. Press Release, Photographs from Magna Entertainment website.
MEC owns Santa Anita, Gulfstream, Laurel, Pimlico, Lone Star Park, Remington Park and Golden Gate Fields racecourses.