Racing Groups Saddle Magna With $2.6M In Claims

Law360, New York (February 10, 2010, 5:56 PM EST) -- Horse racing groups have filed a complaint against bankrupt gaming company Magna Entertainment Corp. over its retention of $2.6 million in distributions from wagers — distributions the groups claim belong to them under California law.

Thirty-seven groups, including the Bay Meadows Racing Association and the California Thoroughbred Business League, filed a lawsuit Tuesday in the U.S. Bankruptcy Court for the District of Delaware, arguing that they are entitled to a portion of the wagers placed at Magna's betting operations.

Magna operates racing facilities at Santa Anita...
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