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Magna Includes Santa Anita in New Sell-Off Plan

Monday, 4th May 2009

Magna Entertainment Corp has "submitted a new court plan to auction off some of its racetracks, including Santa Anita Park, as part of its Chapter 11 bankruptcy reorganisation," reported bloodhorse.com. If approved, Magna "would market for auction Santa Anita, Portland Meadows, Remington Park & Thistledown, as well as its interest in Lone Star Park, according to an amended motion filed in US Bankruptcy Court in Delaware"; a hearing on the motion is scheduled for later today (Monday 4 May). In its motion, Magna will also "continue to explore all alternatives with respect to the remaining assets," which include racetracks Golden Gate Fields, Gulfstream Park, Laurel Park & Pimlico.

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