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Report: Stronach Group Fielding Interest In Several Assets

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.

Report: Stronach Group Considering Sale of Some Assets

According to a June 15 report from Bloomberg.com, The Stronach Group (TSG) has fielded interest from special purpose acquisition companies (SPACs) and others and is exploring options for parts of its portfolio. The Bloomberg report cited “people with knowledge of the matter” as its source.

The Bloomberg report states that TSG is working with an outside advisor and has been approached by a number of parties, among them digital betting and media companies, that have expressed interest in aspects of the business. Bloomberg estimated the Stronach company portfolio is worth more than $1.5 billion.

What remains unknown is what assets might be on the market and which are not. The Stronach Group, which is based in Aurora, Ontario, owns five Thoroughbred racetracks: Santa Anita, Golden Gate Fields, Gulfstream Park, Laurel and Pimlico. According to Wikipedia, its other assets include AmTote International, Bowie Racetrack, Palm Meadows, Xpressbet, The Village at Gulfstream, a racetrack in Austria and the harness track Rosecroft Raceway.

Though TSG may be looking only to sell some of its lesser assets, a potential sale of some others, namely Santa Anita and Gulfstream, could be a cause for concern for the racing industry. TSG has built a reputation as a pro-racing company and may view its assets differently than other companies, particularly casino or real estate companies.

In 2020 Stronach patriarch Frank Stronach and his daughter, Belinda, ended a battle for control of the company that had led to lawsuits. Under the agreement, Belinda got control of the Stronach Group's Thoroughbred racing and gaming businesses, while Frank and his wife, Elfriede Stronach, took over operation of the family's racing and breeding operations. As part of the deal, Frank Stronach relinquished any claims to the current assets that make up The Stronach Group.

TSG Chief Executive, Racing Operations Craig Fravel, sent the TDN the following email in response to a request for a comment.

“The Stronach Group and 1/ST remain committed to building a world-class entertainment and wagering company with Thoroughbred horse racing, racetrack venues and best-in-class guest experience at the core. Our mission is to be the most forward-thinking, innovative and successful sports-anchored, digital media and wagering content business in the world. Every business decision we make is to further that mission and support our racing infrastructure.”

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Grade 1 Winners Ce Ce, Kimari Top Nominees To ‘Win And You’re In’ Princess Rooney

Bo Hirsch LLC's Ce Ce, a multiple Grade 1 stakes winner, and Tom Broeck Farm, Inc.'s Kimari, who earned Grade 1 credentials in her most recent start, are prominent on the first invitation list for the $350,000 Princess Rooney Invitational (G2) July 3 at Gulfstream Park.

The seven-furlong Princess Rooney, a 'Win and In' race for this year's Breeders' Cup Filly & Mare Sprint (G1) at Del Mar, will co-headline the Summit of Speed program with the $200,000 Smile Sprint Invitational (G3) at Gulfstream.

Ce Ce, who captured the Beholder Mile (G1) at Santa Anita and the Apple Blossom (G1) at Oaklawn last year, is trained by Michael McCarthy, who ventured from his Santa Anita base with City of Light to win the $9 million Pegasus World Cup Invitational (G1) at Gulfstream in 2019. The 5-year-old daughter of Elusive Quality has raced twice this year, debuting with a 3 ¼-length victory in a seven-furlong optional claiming allowance April 17 before coming up short in a fourth-place finish in the two-turn Santa Maria (G2) a month later.

Wesley Ward-trained Kimari, second in the Commonwealth (G1) at Royal Ascot last year, became a Grade 1 stakes winner last time out in the seven-furlong Madison April 3 at Keeneland.

Lothenbach Stables Inc.'s Bell's the One, who finished three-quarters of a length behind Kimari while finishing second in the Madison, is a third Grade 1 winner on the list of 14 Rooney invitees, having won the Derby City Distaff at Churchill Downs last September. The Neil Pessin trainee most recently finished fourth in the Derby City Distaff.

The first of three Princess Rooney Invitational lists also includes a trio of graded-stakes winners who are Grade 1 stakes-placed: Medallion Racing and partners' Estilo Talentoso, Lloyd Madison Farm LLC's Sconsin and Tommy Town Thoroughbreds LLC's Victim of Love.

Juan Arriagada-trained Estilo Talentoso won two of six starts at Gulfstream, including a maiden score and an overnight-stakes victory, before hitting the road to finish in a dead-heat with Belle's the One for second in the Madison, check in third in the Derby City Distaff, and win the Bed o' Roses (G3) at Belmont.

Gregory Foley-trained Sconsin, who won the Eight Belles (G2) last year, is coming off a victory in the Winning Colors (G3) at Churchill. The daughter of Include finished second behind Gamine in the Derby City Distaff in her prior start.

Todd Beattie-trained Victim of Love, who captured the May 8 Vagrancy (G3) at Belmont, concluded her 2020 racing second with a third-place finish in the Ballerina (G1) at Saratoga.

Holly Hill Stables LLC's Pacific Gale, who captured the Inside Information (G2) and the Hurricane Bertie (G3) during Gulfstream's Championship Meet, is among several Grade 2 stakes winners invited to the Princess Rooney. Other Grade 2 winners include Frank Fletcher Racing Operations Inc's Frank's Rockette, Godolphin LLC's Lake Avenue, Gary Barber's Laura's Light, and Kueber Racing and partners' Vault.

LBD Stable LLC and David Ingordo's Our Super Freak, who finished third behind Vault last time out in the Ruffian (G2) at Belmont; Daniel J Lopez and George Chestnut's Chub Wagon, who remained undefeated while winning the Shine Again at Pimlico Sunday; and Windylea Farms IV LLC's Thissmytime, who finished second behind Pacific Gale in the Inside Information; round out the Princess Rooney invitation list.

The Princess Rooney invitation list is scheduled to be updated on June 20 and June 27.

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A Dozen On Pimlico’s Turf Kick Off Friday’s Stronach 5

Friday's Stronach 5 will include competitive fields at four tracks and will begin with a dozen 3-year-olds and up at five furlongs on the turf at Pimlico Race Course.

The Stronach 5, which features an industry-low 12-percent takeout, begins at 4:14 ET and wraps up a little more than an hour later at Gulfstream Park.

The first leg of the sequence is a wide-open affair for $16,000 claimers at five furlongs on the turf with a tepid 7-2 morning-line favorite in Mopo Racing's Pay the Kid, who has finished second on the dirt and third last out on the turf since being claimed by trainer Dale Capuano. Mosby's Ranger (4-1) drew the outside post and enters off a second-place finish last out, three-quarters of a length in front of Pay the Kid. Officer Country takes a drop in company off a troubled third around two turns on the turf last time out for trainer Mary Eppler.

Gulfstream's sixth race, a $20,000 claimer at a mile for 3-year-olds and up, is next with Tonalism as the 2-1 favorite off a pair of fourth place finishes for trainer Enrique Amado. Greyzer, claimed by trainer Barry Croft in April, goes out second time for the barn after a fifth-place finish last out.

The Stronach 5 heads west for legs three and four. Golden Gate's third race, for $8,000 maiden claimers at a mile, is also the third leg of the sequence and another wide-open race with Sleep Over a 3-1 morning-line choice off a 2 ½ month layoff. The gelding finished second at the distance for $12,500 in February but was eased and walked off last time out in March for a $28,000 tag. Governor's Gamble draws the rail for trainer Faith Taylor off a second-place finish last time out in this company.

Santa Anita's third race, a $25,000 claiming event for fillies and mares at six furlongs on the turf, is next and Navy Queen is the 2-1 favorite for trainer John Sadler. The 4-year-old filly had a troubled trip against restricted allowance company last time out after finishing second in March against similar company. Majestic Gigi takes a drop after running against open allowance company May 28 while Vella enters after also running against restricted allowance company.

The Stronach 5 concludes back at Gulfstream with Race 8, a seven-furlong, $12,500 claiming event for 3-year-olds and up. Karen's Cove (9-2) enters off a 5-length victory last time out against non-winners of a race since November. Causalistic (6-1), a winner last out against $6,250 claimers, steps up off a claim by trainer Diane Morici. Dropping in class is High Heater (3-1) for trainer Peter Walder.

Friday's races and sequence

Leg One – Pimlico Race 8: (12 entries –5 furlongs turf) 4:14 ET, 1:14 PT
Leg Two – Gulfstream Race 6: (9 entries – 1 mile) 4:34 ET, 1:34 PT
Leg Three –Golden Gate Race 3: (10 entries – 1 mile) 4:52 ET, 1:52 PT
Leg Four –Santa Anita Race 3: (7 entries –6 furlongs turf) 5:09 ET, 2:09 PT
Leg Five – Gulfstream Race 8: (8 entries – 7 furlongs): 5:36 ET, 2:36 PT

Fans can watch and wager on the action at 1/ST.COM/BET as well as stream all the action in English and Spanish at LaurelPark.com, SantaAnita.com, GulfstreamPark.com, and GoldenGateFields.com.

The Stronach 5 In the Money podcast, hosted by Jonathan Kinchen and Peter Thomas Fornatale, will be posted by 2 p.m. Thursday at InTheMoneyPodcast.com and will be available on iTunes and other major podcast distributors

The minimum wager on the multi-race, multi-track Stronach 5 is $1. If there are no tickets with five winners, the entire pool will be carried over to the next Friday.

If a change in racing surface is made after the wagering closes, each selection on any ticket will be considered a winning selection. If a betting interest is scratched, that selection will be substituted with the favorite in the win pool when wagering closes.

The Maryland Jockey Club serves as host of the Stronach 5.

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