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Non-Tech : Sungold Gaming International (SGGNF) -- Ignore unavailable to you. Want to Upgrade?

To: Archangel who wrote (3779)	5/16/1999 9:42:00 AM
From: R. Georgieff	Read Replies (1) \| Respond to of 5164

Changing the subject, there was an interesting article in the Sat. Star of May 15, regarding Magna. Here is part of it: Aurora-based Magna revealed that $6 million of the Company's net income for the three months ended March 31 came from non-auto business, mostly from its latest acquisition, Santa Anita Race Track in California."A Magna subsidiary bought the track last year for about $126 million (U.S.). But the track will soon be part of Ventures, a new company that Magna plans to spin off". "Magna is moving about $300 million (U.S.) in non-auto assets and $250 million in cash into Ventures. Magna will continue to focus on auto parts production, but chairman Frank Stronach is turning his personal attention to Ventures because he believes there is major long-term growth potential in the tourism and gaming industries. Graham/Orr, Magna's executive vice-president of corporate development told industry analysts that Ventures continues to search for partners".