|Magna finalizes deal to sell Flamboro Downs|
Posted: 8/17/2005 11:01:00 AM ET
Great Canadian Gaming Corp., parent company of Hastings Park, has finalized its agreement with Magna Entertainment Corp. to purchase Flamboro Downs, a Standardbred racino 45 miles from Toronto in Flamborough, Ontario, for $63.9-million.
The sale is set to close on September 30 and remains subject to customary closing conditions, including regulatory approval.
Magna will retain the distribution rights to the Flamboro simulcast signal as well as all the signals under the Great Canadian Gaming umbrella, including Hastings Park in Vancouver, British Columbia.