Stronach Group

The Stronach Group
Industry Horse racetracks
Headquarters Aurora, Ontario, Canada
Key people
Frank Stronach, Alon Ossip

Stronach Group is a gambling and horse racing company in North America with several holdings in Europe and Australia, and is North America's largest thoroughbred racing company, based on revenue and holdings.[1]


The Stronach Group entered the horse racing industry by purchasing Magna Entertainment Corporation's former holdings from MI Developments.[2]

Magna Entertainment Corporation

Magna Entertainment Corporation (MEC) was created in 1999 by parent company Magna International Inc. Magna International, a major automotive supplier based in Ontario, Canada, underwent a corporate reorganization in which its non-automotive businesses and interests were transferred to MEC. In March 2000, Magna International distributed shares in its new division to its current stockholders, establishing MEC as a separate public company.[3] Magna Entertainment filed for Chapter 11 bankruptcy.

Stronach Group today

Stronach Group currently owns or manages racetracks in North America, and one racetrack in Austria, including many thoroughbred tracks and two mixed (thoroughbred and standardbred) tracks. Stronach Group also operates the simulcasting venues at these tracks, as well as OTB (Off-track betting) facilities.

Other ventures include Xpressbet, a wagering business that allows customers to wager on over 100 horse racing tracks via internet or telephone, and Horse Racing TV, a premium television network featuring racing from both Stronach Group tracks and other participating tracks.[1] In 2007, Magna sold 50% of Horse Racing TV to Churchill Downs Incorporated.

Stronach Group also owns thoroughbred training facilities in conjunction with its racetracks in California, Florida, and Maryland, and owns and operates facilities that manufacture a straw-based bedding product, StreuFex.[1]

Magna Entertainment Corporation has recently moved to add additional gaming attractions, such as slot machines, to several of its tracks. In 2004, voters in Oklahoma approved legislation that allowed Stronach Group to add slot machines at Remington Park racetrack in Oklahoma City. Remington Park opened its casino, featuring 650 Class II gaming machines, in November 2005.[4] Gulfstream Park in Hallandale Beach, Florida, followed suit in November 2006, with 516 slot machines and poker.[5] Magna Racino in Austria also features alternative gaming.

In 2006, Magna Entertainment Corporation completed its purchase of AmTote International, who provide totalizator services to the horse racing industry. On March 23, 2010 an agreement was reached to sell the two Maryland Jockey Club tracks (Pimlico and Laurel Park) from Magna Entertainment Corporation to its parent company MI Developments. MI Developments will receive the tracks from M.E.C. in exchange for paying $25 million in cash for claims to Maryland Jockey Club creditors and $89 million to other creditors through a new reorganization plan. The U.S. Bankruptcy Court in Delaware, has until April 30 to approve Magna's reorganization plan.

Owned racetracks and assets

Stronach Group owns the following tracks in order of acquisition date:[6]

Race tracks

Other assets

Former MI Developments Inc. or MEC assets and racetracks


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