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Magna's revenues up

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February 23, 2005 Send To A Friend  | Print View

Magna Entertainment Corp. (MEC) reported Tuesday that its 2004 revenues climbed to $731.5 million, up from $708.9 million in 2003, but once again the company showed a loss on its bottom line. The 2004 net loss was $95.6 million versus $105 the previous year.



Jim McAlpine, president and chief executive officer of MEC, commented on the results in a prepared statement: "While we have made strides toward our long-term goals and strategic vision in 2004, we incurred significant costs related to the pursuit of alternative gaming and regulatory reform and investments in strategic initiatives..."

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