Bloomberg reported Tuesday that the racing and media company the Stronach Group is “exploring options for parts of its portfolio after fielding interest from special purpose acquisition companies and other suitors,” according to unnamed sources.
No specific assets were listed to be under consideration.
The company's portfolio, estimated to be worth $1.5 billion, includes six racetracks in the U.S. (Santa Anita, Gulfstream, Pimlico, Laurel, Golden Gate, and Rosecroft Raceway), multiple training centers, wagering platform Xpressbet, tote company AmTote, a racetrack in Austria, and other real estate holdings. It also co-owns TrackNet Media, a horse racing content provider, with Churchill Downs.
Founded by Canadian Frank Stronach, the Stronach Group's racing and gaming businesses are now operated by his daughter Belinda Stronach following a public court battle, which ended last year.
Read more at Bloomberg.
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