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MAGNA BUYS NEW YORK OTB

Jul 13, 2001 8:09 PM

Magna Entertainment, which owns Santa Anita, Gulfstream and more than 10 other racetracks across the country, will soon own New York City’s OTB. Mayor Rudy Giuliani was expected to make the announcement today.

Magna owner Frank Stronach announced last December that the company had purchased Pennsylvania-based Call-A-Bet, an account wagering operation.

The second purchase brings Stronach closer to his goal of establishing a premier satellite wagering business.