Racetrack Sold to Magna Entertainment for $24M

SAN MATEO, CA-The California Horse Racing Board has approved the purchase of the Bay Meadows racetrack by one of the nation's largest track operators.

By Allison Landa | August 31, 2000 at 01:01 AM

Magna bought the San Mateo, Calif., racetrack for $24.1 million in cash from the California Horse Racing Board. Magna also owns and operates Golden Gate Fields off I-80 in Berkeley. Golden Gate is the Bay Area's other major racetrack.

Subject to anti-trust approvals, the deal is expected to close in mid-to-late November.

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