Bankruptcy judge approves proposed sale of Magna Entertainment assets

Judge approves Magna Entertainment asset sale

WILMINGTON, Del. — A Delaware bankruptcy judge has approved proposed sale procedures for certain assets of horse track owner Magna Entertainment Corp.

The sale plan approved by Judge Mary Walrath on Monday includes Santa Anita Park in California, Remington Park in Oklahoma City, Thistledown in Ohio and Portland Meadows in Oregon.

It also includes Ontario-based MEC’s interest in Lone Star Park in Texas.

While Magna took Pimlico Race Course in Baltimore and other assets in Maryland off the auction block last week, an attorney for the company said it may decide later to sell those assets as well.

In other action Monday, the judge again postponed consideration of a hedge fund’s request to appoint an independent examiner to ensure that the sale process is fair.