The Nasdaq exchange will delist Magna Entertainment Corp., the largest horse track owner in the U.S., following the company's Chapter 11 bankruptcy filing.
Magna Entertainment does not plan to challenge the action, so its shares won't be bought or sold on the exchange after Monday.
It filed for bankruptcy protection on March 5.
Aurora, Ontario-based Magna Entertainment's holdings include Pimlico Race Course in Baltimore, home to the Preakness, the second leg of the Triple Crown. Magna also owns Laurel Race Course in Maryland, Santa Anita in Arcadia, Calif., and Golden Gate Fields in the San Francisco Bay area, as well as casinos and pari-mutuel wagering operations.
Magna Entertainment's stock price is 8 cents a share, down from a 52-week high of $13.60.
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On the Net:
Magna Entertainment Corp.: http://www.magnaent.com
Copyright 2009  AP News
