mid

Shareholders OK transfer of assets to Stronach

Shareholders in the real estate company MI Developments overwhelmingly approved a proposal to transfer the company’s racing and gaming assets (including Gulfstream Park, Laurel Park, Pimlico, Golden Gate Fields, and Santa Anita Park) to Frank Stronach, along with $20 million in operating capital, in exchange for the elimination of the class of stock the Stronach […]

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Churchill, DRF at odds over new ADW platform

Churchill Downs Inc. has been reevaluating its relationship with the Daily Racing Form since the publisher’s launch of an advance deposit wagering system powered by XpressBet.com, which is owned by CDI rival MI Developments. Currently, CDI racetracks are not available for wagering through DRFBets.com.  CDI vice president of corporate communications Julie Koenig Loignon says her […]

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Finley: Can Avioli say no to Stronach?

ESPN turf writer Bill Finley writes that MID Chairman and CEO Frank Stronach likes to surround himself with “yes men.”  Finley hopes Stronach’s new hire, Greg Avioli, as head of the racing and gaming division will be able to stand up to Stronach and tell him, no: “On the first day of the job, Avioli […]

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Rees: More on Avioli’s job switch

Louisville Courier-Journal turf writer Jennie Rees gives her take on Greg Avioli leaving his post at the Breeders’ Cup to work for Frank Stronach and become President and CEO of Magna International Development’s racing and gaming division: “I find it ironic that Avioli will be going to the company that, by tearing down and rebuilding Gulfstream […]

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MID names Avioli to racing and gaming post

Press Release MID’s Chairman and Chief Executive Officer, Frank Stronach announced today that the former Breeders’ Cup Limited President and CEO Greg Avioli, who after a successful five-year stint as its head, has signed an employment agreement as President and CEO of the racing and gaming division of MID. In announcing the appointment, Stronach called […]

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Stronach Company Makes Buyout Bid for MID Shares

PRESS RELEASE ST Acquisition Corp. (“STAC”), a corporation controlled by members of the Stronach Family, announced today that it intends to make an offer (the “Offer”) to acquire any or all of the Class A Subordinate Voting Shares and Class B Shares of MI Developments Inc. (“MID”) (TSX: MIM.A, MIM.B; NYSE: MIM) not already […]

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MI DEVELOPMENTS TO OFFER BLACK-EYED SUSAN 2.2

The Paulick Report received the following press release regarding the Black-Eyed Susan 2.2, a follow up to the Preakness 5.5. MI DEVELOPMENTS ANNOUNCES CREATION OF BLACK-EYED SUSAN $2.2 MILLION AND THE $220,000 XPRESSBET CONSOLATION PRIZE PLUS THE AMTOTE JOCKEY BONUS Programs Add to Excitement of Preakness 5.5 Weekend MI Developments Inc., in conjunction with MID’s […]

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CHRB BEYOND FRUSTRATED WITH MI DEVELOPMENTS

By Ray Paulick The golden rule in the business world usually dictates that “he who has the gold makes the rules.” That’s not the way it usually is in the horse racing world, and certainly not in California. Frank Stronach and his MI Developments real estate company, owner of Santa Anita Park, Golden Gate Fields, […]

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MID SAYS NEED FOR NEW TRACK SURFACE PART OF REASON FOR NO OAK TREE MEET

After the news that Oak Tree would need to look for a new location to run its meets for 2010/2011, MID CEO Dennis Mills explains that part of the reason for this is a desire to change surfaces. “The biggest challenge that exists in California is the racing surface (at Santa Anita). That is […]

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MID TO OAK TREE: GO FOR PLAN B OR C

It appears that Oak Tree Racing Association will officially not be running its meet at Santa Anita this year according to a report by Larry Stewart of the Thoroughbred Times. This will be the first time since 1969 that the popular California not-for-profit will have to move its operations from the racetrack in Arcadia. […]

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