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US Track Operator Magna Delisted From Stock Exchange

Friday, 18th December 2009

Magna Entertainment Corp (which owns Santa Anita Park in California, Gulfstream Park in Florida & 7 other US thoroughbred tracks) announced it has received a letter from Canada's Toronto Stock Exchange "notifying the company its Class A shares would be delisted at the close of April 1 trading" reported bloodhorse.com. MEC (whose shares also trade in the US on the Nasdaq exchange) is battling major debt repayment problems & overnight "newspapers & television stations in the Los Angeles area are reporting on what may happen to Santa Anita if Magna files for Chapter 11 bankruptcy in the US," reported thoroughbredtimes.com. The NBC television network "broadcast a report about the possible impact on the California's Arcadia community should Santa Anita close", while The Pasadena Star-News analysed "what would happen to the money owed to horsemen should Magna file for bankruptcy". (Mar 5)

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