June 23-11 Sacramento ~ The California Horse Racing Board approved a waiver to California horse racing law allowing the Stronach Group to own more than one racing facility/operation in the state. Declaring that the Stronach Group’s ownership of Santa Anita, Golden Gate Fields, and XpressBet would be “in the best interest of horse racing,” the Board imposed essentially the same conditions for the waiver granted to the Stronach Group as were required for the waiver granted last year to MID. Ownership of these properties is scheduled to be transferred from MID to the Stronach Group next week.
The racing and gaming assets acquired by The Stronach Group include: Santa Anita Park; Golden Gate Fields; Portland Meadows; MID’s joint venture interests in Maryland Jockey Club’s real estate and racing assets (Pimlico Race Course, Laurel Park and the Bowie Training Center); Gulfstream Park and MID’s joint venture interest in an associated retail development; horseracing technology assets, including Xpressbet®, AmTote and MID’s joint venture interest in HRTV, a cable and satellite television network dedicated to the sport of horse racing; as well as various development properties previously owned by MID.
Belinda Stronach, President and Chief Executive Officer of The Stronach Group, said: “The acquisition of MID’s racing and gaming assets positions The Stronach Group at the forefront of the Thoroughbred horseracing industry. We are fully committed to ensuring the success and profitability of our strong portfolio of racing and gaming operations. We also look forward to working with the horseracing industry and all of its stakeholders to ensure the long-term success and viability of the industry.”