Stronach Group - Former MI Developments Inc. or MEC Assets and Racetracks

Former MI Developments Inc. or MEC Assets and Racetracks

• Bay Meadows Racetrack, San Mateo, California (near San Francisco); Magna acquired (racing and operating rights) in August 2000 for $24.1 million, agreement expired in December 2004.
• Flamboro Downs, Hamilton, Ontario. Acquired in June 2002 for $46.2, sold to Great Canadian Gaming Corp. for a total of $63.9 million in August 2005.
• Maryland-Virginia Racing Circuit, New Kent, Virginia. Sold simulcast rights of the Virginia track Colonial Downs to Colonial L.P. for $9.8 million in September 2005 who will have the use of the Colonial Downs signal in both domestic and international distribution network.
• Multnomah Greyhound Park, Wood Village, Oregon. Magna acquired (racing and operating rights) in October 2001 for $1.2 million (20% of Sale of Portand Meadows sale totaling $5.97 million), agreement expired in September 2005.
• The Meadows Racetrack, North Starbane Township, Pennsylvania near Pittsburg; Magna acquired in April 2001 for $53 million, sold to Millennium Gaming, Inc. for a total of $225 million in November 2006. Magna has agreement to manage racing operations for 5 years.
• San Luis Rey Downs Training Center, Bonsall, California a 205-acre (0.83 km2) horse racing training facility that was sold by Magna in June 2007 for $24 million to M.I. Developments which plan to make residential developments within three years.
• Great Lakes Downs, Muskegon, Michigan. Acquired in February 2000 for 267,000 Shares of Class A Voting Stock in Magna Entertainment. Magna had closed the track in November 2007, and sold the property to the Little River Band of Ottawa Indians in July 2008 for $5.9 million. The tribe is redeveloping the property, with plans to build a casino.
• Magna Racino, Ebreichsdorf, Austria. Built and opened in April 2004, Magna has agreed to sell to Fair Enterprises Limited for $9.8 million in July 2009 (sale has not formally closed yet).
• Remington Park, Oklahoma City, Oklahoma. Acquired in for $10 million in February 2000, Magna has agreed to sell to Global Gaming, RP (owned by the Chickasaw Nation tribe) for $80.25 million in September 2009 (sale has not formally closed).
• Ocala Meadows, Ocala, Florida. Magna has agreed in September 2009 to sell 490 acres (2.0 km2) near interstate I-75 for $8.1 million (sale has not formally closed).
• 218 acres (0.88 km2) land, Romulus, Michigan. Magna purchased this property in September 2002 and sold it some time in 2008 for $28 million.
• Thistledown Racecourse, North Randall, Ohio. Acquired in October 1999 for $14 million, sold to Harrah's Entertainment in September 2009 for $43 million (sale closed 07/28/10).
• Lone Star Park, Grand Prairie, Texas. Acquired in October 2002 (Owns racing and operating assets) for $100 million has agreed to sell to Global Gaming, RP (owned by the Chickasaw Nation) for $27 million in September 2009 (sale has been delayed by the Delaware bankruptcy judge due to a competing bid by Penn National Gaming.)