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Magna Entertainment Corp. signs agreement to acquire Lone Star Park.

Publication: PR Newswire
Publication Date: 07-MAR-02
Format: Online
Delivery: Immediate Online Access

Article Excerpt
AURORA, ON -- Magna Entertainment Corp. ("MEC") today announced that it has entered into an agreement with Lone Star Race Park, Ltd. and LSJC Development Corporation to acquire substantially all of the operations and related assets of Lone Star Park at Grand Prairie, a Thoroughbred and American Quarter Horse racetrack located near Dallas, Texas. The acquired assets include the rights under a long-term lease of Lone Star Park and a related purchase option exercisable at expiry in 2027. The purchase price of the acquisition will be satisfied by the payment of...

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