Magna Loses $10M Suit Against Casino Operator

Law360, New York (February 9, 2011, 8:50 PM EST) -- A federal judge ruled Wednesday that casino operator PA Meadows LLC does not owe $10 million to bankrupt racetrack owner Magna Entertainment Corp. in connection with a $200 million purchase agreement for MEC's Meadows Racetrack in Pennsylvania.

Judge Mary Walrath of the U.S. Bankruptcy Court for the District of Delaware granted PA Meadows' motion for summary judgment and denied MEC's motion for summary judgment, finding that PA Meadows did not violate a purchase agreement between the two companies.

PA Meadows had paid $175 million to MEC...
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