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Magna reports $10.54 million net loss for March 5 to March 29
By Caroline Salls
Pittsburgh, May 6 - Magna Entertainment Corp. reported a $10.54 million net loss for the period of March 5 to March 29 on zero revenues, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.
The company had $2.81 million in cash and cash equivalents at March 29.
Magna, an Aurora, Ont.-based owner and operator of horse racetracks, filed for bankruptcy on March 5 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-10720.
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