BNET Industries

Magna Entertainment Corp.

Last Fiscal Year Sales:$625.7M
  • Public
  • CA
Dow Jones Description

MEC, North America's largest owner and operator of horse racetracks, based on revenue, develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. MEC also develops, owns and operates casinos in conjunction with its racetracks where permitted by law. MEC owns and operates AmTote International, Inc., a provider of totalisator services to the pari-mutuel industry, XpressBet®, a national Internet and telephone account wagering system, as well as MagnaBet(TM) internationally. Pursuant to joint ventures, MEC has a fifty percent interest in HorseRacing TV®, a 24-hour horse racing television network, and TrackNet Media Group LLC, a content management company formed for distribution of the full breadth of MEC's horse racing content.

Interim Chief Executive Officer
Gregory Rayburn
Number of Employees 5,300
Contact Information

337 Magna Dr

Aurora, Ontario L4G 7K1

magnaent.com

(905) 726-2462

NAICS Code Horses and Other Equine Production: 112920

Recent Events

  • MI Developments Inc. announces 2009 third quarter results

    11/10/09 - Bankruptcy Filings - View Story

  • Gulfstream president Bill Murphy resigns

    10/31/09 - Mgmt. Change Leaving - President - View Story

  • Pimlico, Laurel Park at stake; early bids will set bar for Jan. 8 bankruptcy auction

    11/01/09 - Bankruptcy Filings - View Story

  • Magna Entertainment subsidiary plans mixed-use project at Laurel Park

    10/02/09 - Bankruptcy Filings - View Story

  • Global Gaming to buy Magna Entertainment track

    9/16/09 - Merger / Acquisition - View Story

  • Ontario Securities Commission Dismisses Minority Shareholder Applications

    9/14/09 - Bankruptcy Filings - View Story

  • Magna Entertainment gets preliminary bid of $80M for Remington Park facility

    8/26/09 - Bankruptcy Filings - View Story

  • Vauxhalls owner left for New World with $200

    6/02/09 - Bankruptcy Filings - View Story

News & Analysis

magna entertainment corp. - All News and Analysis

Decision Makers

Name (plus bio) Position
Gregory Rayburn Interim Chief Executive Officer
William Bridgen President
Blake Tohana Chief Financial Officer
Ron Charles Chief Operating Officer & Director
Brant Latta Senior Vice President of Operations
James Bromby Senior Vice President of Operations
Bill Murphy Vice President & General Manager, Racing Operations
Frank DeMarco Jr. Vice President, Regulatory Affairs
Mary Lyn Seymour Vice President
Paul Cellucci Vice President, Corp Development
Stuart Morris Vice President, Marketing
Henry Gluck Consultant
Lee Jackson Secretary
William G. Ford Legal Counsel

Board of Directors

Name (plus bio) Position
Dennis Mills Vice Chairman
Frank Vasilkioti Board of Directors
Gino Roncelli Board of Directors
Jennifer Jackson Board of Directors
Louis Lataif Board of Directors
W. Thomas Hodgson Board of Directors
William J. Menear Board of Directors

Organization Position Status
Magna Entertainment Corp. Interim Chief Executive Officer Current
Muzak LLC Chief Executive Officer Current
Fti Palladium Partners Senior Managing Director Current
AAIPharma, Inc. Interim Chief Operating Officer Former
Fti Palladium Partners Practice Leader Current

Organization Position Status
Magna Entertainment Corp. President Current
Mt. Auburn Partners, LLC Current

Blake Tohana has served as Executive Vice-President and Chief Financial Officer of MEC since July 2003. Prior to joining MEC in that capacity, Mr. Tohana held various executive positions with Fireworks Entertainment Inc., a subsidiary of CanWest Global Communications Corp., from August 1997 to July 2003. Most recently, he served as Executive Vice-President, Corporate Development of Fireworks Entertainment Inc. from April 2002 to July 2003. Prior to that, he served as Chief Financial Officer of Fireworks Entertainment Inc. from October 1998 to April 2002 and Vice-President, Finance from August 1997 to October 1998.

Organization Position Status
Magna Entertainment Corp. Chief Financial Officer Current
Vc Bet Executive Vice President Current
MEC Holdings Inc. Executive Vice President Former
Magna Entertainment Corp. Executive Vice President Current

Organization Position Status
Magna Entertainment Corp. Chief Operating Officer & Director Current
Magna Entertainment Corp. Board of Directors Current

Brant Latta has served as Senior Vice-President of Operations of MEC, along with James Bromby, since October 2006. Prior to that appointment he was Vice-President of Operations from March 2006 to October 2006, from August 2003 to March 2006 he was Senior Manager, Continuous Improvement Team and, prior to that, served in various senior level capacities within MEC since its inception.

Organization Position Status
Vc Bet Senior Vice President of Operations Current
Magna Entertainment Corp. Senior Vice President of Operations Current

James Bromby has served as Senior Vice-President of Operations of MEC, along with Brant Latta, since October 2006. Prior to that appointment he was Vice-President of Operational Finance from March 2006 to October 2006, from August 2003 to March 2006 he was Senior Manager, Continuous Improvement Team and, prior to that, served in various senior level capacities within MEC since its inception.

Organization Position Status
Vc Bet Senior Vice President of Operations Current
Magna Entertainment Corp. Senior Vice President of Operations Current

Organization Position Status
Magna Entertainment Corp. Vice President & General Manager, Racing Operations Current

Organization Position Status
Vc Bet Vice President, Regulatory Affairs Current
Magna Entertainment Corp. Vice President, Regulatory Affairs Current
The Los Angeles Turf Club Inc Executive Director Current
The Los Angeles Turf Club Inc General Counsel Current
The Los Angeles Turf Club Inc Secretary Current

Organization Position Status
Vc Bet Vice President and Controller Current
Magna Entertainment Corp. Vice President Current
Magna Entertainment Corp. Controller Current
Magna Entertainment Corp. Director of Finance Former

Organization Position Status
Magna Entertainment Corp. Vice President, Corp Development Current

Organization Position Status
Magna Entertainment Corp. Vice President, Marketing Current

Henry Gluck (Independent Director) has served as Director since August 2003 and has served on the Audit Committee since March 2004. Mr. Gluck serves on the Board of Trustees of Andrus Gerontology Center at the University of Southern California and co-chairs the Board of Advisors of the UCLA Medical Center. Mr. Gluck served as Chairman and Chief Executive Officer of Caesars' World from 1983 until 1995. While serving in this position, Mr. Gluck negotiated the sale of Caesars' World to ITT Corp. and remained as Chairman and Chief Executive Officer, joining the Board of Directors of ITT Corp. Mr. Gluck was Co-Chairman of Transcontinental Properties, developers of Lake Las Vegas, from 1995 to 2003. Mr. Gluck has served on the board of directors of many publicly traded companies, including ITT Corp., Sheraton Hotel Corp., Cordura Corporation, Growth Realty, Daylin, Gibralter Savings and Loan Association, Monogram Industries and Metal Box America.

Organization Position Status
Fors With Belgian Chocolate. Locations Independent Director Current
Magna Entertainment Corp. Consultant Current
California Pizza Kitchen Inc. Board of Directors Current
Loanassociation.Com Board of Directors Current
University of Southern California Board of Trustees Current
Fors With Belgian Chocolate. Locations Director Current
Caesars World, Inc. Chief Executive Officer Former
UCLA Health System Co-Chairs, Board of Advisors Former
Caesars World, Inc. Chairman Former
UCLA Health System Board of Directors Former

Organization Position Status
Magna Entertainment Corp. Secretary Current
Magna Entertainment Corp. Secretary Former

William G. Ford has served as Secretary of MEC since March 2006 and has been Legal Counsel of MEC since May 2003. Prior to joining MEC, Mr. Ford was an associate lawyer with the law firm of McCarthy Tetrault LLP from April 1999 to April 2003.

Organization Position Status
Magna Entertainment Corp. Legal Counsel Current
East West Resource Corporation Board of Directors Current
Magna Entertainment Corp. Secretary Current
Vc Bet Secretary Current
University of Detroit Mercy School of Law Degrees Former
University of Windsor Degrees Former

Organization Position Status
Magna Entertainment Corp. Vice Chairman Current
Magna Entertainment Corp. Board of Directors Former

Organization Position Status
Magna Entertainment Corp. Board of Directors Current

Organization Position Status
Magna Entertainment Corp. Board of Directors Current

Organization Position Status
Magna Entertainment Corp. Board of Directors Current

Organization Position Status
Boston University School of Management Dean Current
ABIOMED, Inc. Dean of the Boston University School of Management Current
The Humane Economy Current
Techleb|07 Conference Current
Interaudi Bank Board of Directors Current
ABIOMED, Inc. Board of Directors Current
Intier Automotive Inc. Board of Directors Current
Magna International Inc. Board of Directors Current
Great Lakes Chemical Corp Board of Directors Current
Group 1 Automotive, Inc. Board of Directors Current
The Iacocca Foundation Board of Directors Current
Magna Entertainment Corp. Board of Directors Current
Harvard University MBA Former
Boston University BS Former

Organization Position Status
Magna Entertainment Corp. Board of Directors Current
Magna Entertainment Corp. President & CEO Former

Organization Position Status
Magna Entertainment Corp. Board of Directors Current

Executive News

  • Magna Entertainment Corp. files sixth default status report

    Reuters - 7/10/09 - View Story

  • Hearing on examiner in Magna bankruptcy postponed

    Seattle Times - 7/07/09 - View Story

  • Magna Entertainment Corp. files fifth default status report

    Reuters - 6/26/09 - View Story

advertisement
IndustryTop Rated
advertisement
Click Here