| | Business Summary | | Magna
Entertainment
Corp.
acquires,
develops
and
operates
horse
racetracks
and
related
pari-mutuel
wagering
operations.
As
a
complement
to
its
horse
racing
business,
the
Company
is
exploring
the
development
of
electronic
media
wagering
operations,
including
telephone
account,
interactive
television
and
Internet-based
wagering.
Magna
is
also
exploring
the
development
of
real
estate
projects
on
the
land
surrounding
some
of
its
racetracks.
These
real
estate
projects
could
be
pursued
in
conjunction
with
developers
who
would
be
expected
to
provide
the
necessary
financing.
In
addition,
the
Company
owns
a
real
estate
portfolio
that
includes
a
gated
residential
project
under
development,
a
golf
course
and
related
recreational
facilities
in
Oberwaltersdorf,
Austria,
and
another
golf
course
scheduled
to
open
in
May
2001
in
Aurora,
Ontario,
Canada. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Magna
Entertainment
Corporation
acquires,
develops,
and
operates
horse
racetracks
and
related
pari-mutuel
wagering
operations.
Para-mutuel
wagering
allows
individuals
to
bet
against
each
other
on
the
outcome
of
a
horse
race.
For
the
six
months
ended
6/30/01,
revenues
increased
24%
to
$357.7
million.
Net
income
increased
68%
to
$24.7
million.
Results
reflect
increased
wagering
sales
and
higher
real
estate
sales,
along
with
operating
efficiencies. | | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Frank Stronach, 68
Chairman | -- | Jim McAlpine, 54
Pres,
CEO, Director | -- | Jerry Campbell, 60
Vice
Chairman | $317K | James Nicol, 46
Vice
Chairman | -- | Graham Orr, 54
Exec.
VP, CFO | 293K | | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/m/miec.gif)