MI Developments announces amendments to existing Gulfstream Park financing facility and MEC bridge loan
MI Developments Inc. today announced that it has agreed to amend the existing project financing facility provided in December 2004 by a subsidiary of MID to the subsidiary of Magna Entertainment Corp. that operates the Gulfstream Park racetrack in Florida by adding a new tranche of up to US$25.75 million to fund the design and construction of a slot machine facility to be located in the existing
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Interesting gambling facts:
- Lotteries were brought to America in the 1800s by the thousands of Chinese immigrants who worked in the mines and on the railroads.
- The brand new resort, Wynn Las Vegas recently opened on the Las Vegas Strip. At a cost of approximately $2.7 billion, the Wynn Las Vegas features 2,700 guestrooms and suites, casino (table games, over 1900 slots/video poker machines, poker room with race and sports book), several restaurants, a night club, golf, a shopping esplanade and a show called Le Reve.
- As early as 1420, lotteries were used in Europe for public works. High-value commodities such as land and art were often sold through lotteries.
- The famous banker J.P. Morgan once walked out of a Monte Carlo casino because the stakes were too low? At the time, the maximum wager was 12,000 francs and Morgan wanted it increased to 20,000 francs. When the casino manager refused to increase the limit, Morgan left the casino saying "12,000 francs! I have no time to lose such ridiculous amounts."
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