Magna Plans On Adding More Horsepower To The Motor City

Magna Entertainment plans to build a 220-acre, $200M track in Romulus, which is located just outside Detroit, according to Eckman & Bebow of the DETROIT NEWS, who note Magna submitted the application through its state subsidiary, Michigan Racing. The facility, which "would offer live and simulcast betting but no slot machines, would include a 1 1/8-mile thoroughbred dirt track with a one-mile turf track and a 7/8-mile harness track nested in it." Magna President & CEO Jim McAlpine said, "We have always viewed Michigan as an important market for horse racing and the Detroit metroplex as the ideal location for the development of a modern racetrack facility." Magna also owns Great Lakes Downs in Fruitport (DETROIT NEWS, 8/30). In S.F., Larry Stumes notes Magna's lease to operate Bay Meadows expires December 31. Bay Meadows President Jack Liebau: "We're confident that the lease will be renewed or extended on a year-to-year basis" (S.F. CHRONICLE, 8/30).

MUST BE A GOOD BET: The DAILY RACING FORM's Mary Rampellini reports casino entertainment company Harrah's Entertainment has signed a letter of intent to buy controlling interest in Louisiana Downs in Bossier City. Harrah's will partner with a group of five business execs led by Shreveport attorney Jim Davis. Harrah's initially will own 95% of the new company, while Davis' group will hold 5%. The group projects spending $157M for the acquisition of the venue, installation of 1,500 slot machines and other improvements (DAILY RACING FORM, 8/29).