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$0.41 -0.04 (-8.89%)
7/3/2008 1:00 PM

Magna Entertainment Corp.(USA) (MECA)

CAPS Rating:
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Owns and operates horse racetracks in California, Florida, Maryland, Texas, Oklahoma, Ohio, Michigan, Oregon and Ebreichsdorf, Austria and supplies, via simulcasting, live racing content to the growing inter-track, off-track and account wagering markets.

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Avatar Artmoves (< 20) Submitted: 8/01/07 6:19 PM : Outperform Start Price: $2.60 MECA Score: -70.45

I believe the key to Meca is casino expansion in all of its racing facilities. Gulfstream Park opened in November of 06 and expanded its slots by 700 additional machines in March of 07. The Thoroughbred Association, in conjunction with Meca tracks, make the perfect vehicle to accomplish the casino expansion. Ask this question: of the $98 million increase in revenue in 2006, what percentage can be attributed to the casinos at Remington and Gulfstream Parks?

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