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Toronto-Based Company Plans New Horse Racetrack for Sacramento, Calif., Area.
Knight Ridder/Tribune Business News, August, 2002
By Debbie Arrington, The Sacramento Bee, Calif. Knight Ridder/Tribune Business News
Aug. 12--In an industry of long shots, Frank Stronach knows a betting opportunity when he sees one. And he's gambling his ideas will work in Dixon.
Stronach, a billionaire who first made his big money in auto parts, is now pushing horse power, aiming to add to his stable of race tracks a brand new one 20 miles west of Sacramento. Here, he and his Toronto-based Magna Entertainment Corp. plan to turn 260 acres into a $150 million horse-racing entertainment complex.
In only three years, Magna has acquired 13 tracks nationwide, including three in California, as part of a grand, and sometimes controversial, attempt to transform the sport of kings into a...
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