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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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Cal-Bred The Chosen Vron Changes Tactics In Affirmed Triumph

In a race in which most observers thought trainer Eric Kruljac's talented California-bred The Chosen Vron would be on or contending for the early lead, instead the 3-year-old Vronsky gelding was last early and although Bob Baffert's Defunded had what appeared to be an insurmountable four-length edge turning for home, it was The Chosen Vron who rallied for an impressive 1 ¼-length score in Sunday's Grade 3, $100,000 Affirmed Stakes at Santa Anita in Arcadia, Calif. Ridden by Umberto Rispoli, he got 1 1/16 miles in 1:44.01.

Stretching out for the first time off a huge win in the G3 Lazaro Barrera Stakes going 6 ½ furlongs, The Chosen Vron settled nicely under Rispoli heading into the first turn as longshot Jimmy Irish and Defunded contested the early going.

With Defunded assuming command around the far turn, he quickly dispatched of his favored stablemate Classier and had what appeared to be a winning advantage a quarter mile out but The Chosen Vron, who had moved into contention at the rail, switched leads straightening for home and reeled in the leader just inside the sixteenth pole to leave no doubt about who was best on the day.

“I thought he'd show more natural speed but they sent a couple horses real hard and Umberto took the initiative,” said Kruljac. “He rode the horse with a lot of faith and he got there. He had a lot of kickback (dirt) on him, but he'll run through it, this horse…The way the track was playing all day…I told Umberto, if the opportunity is there, if there's not much pace, feel free to go.

“And then I said, 'By the way, for the next 10 minutes, you own this horse.' And he rode him his way…I think we're going to be going for the easy money now, I mean those races are going to be tough too, there's some good Cal-breds. But it looks like we'll run for a $175,000 in the Real Good Deal going seven furlongs at Del Mar (for Cal-breds on July 30).”

A two-time stakes winner coming into Sunday, The Chosen Vron was off as the 8-5 second choice in a field of five sophomores and paid $5.20, $2.80 and $2.10.

“When the gates (opened) his intent was to go, obviously he's coming from a (sprint) race, but it's so far he understood that when we didn't go anywhere, he just switched off his mind and on the first turn he was just completely relaxed,” said Rispoli, who was aboard for the second consecutive time today. “I had him in a good spot, I threw him on the inside because I know he likes the kickback, and I traveled all the way inside to find a good spot at the three furlong pole just moving him up.

“At that point I knew he was the horse to beat. I felt that I had so much horse under me that he did the rest. After I got behind Classier, I came out and said, 'Okay, it's business time,' and it was just a feeling that he was going to switch his lead and I knew he was going to go by them easy. He's a small horse but he's got a big heart. He's got an amazing mind to go from (6 ½) furlongs to a mile and one sixteenth for the first time.”

Owned by Eric Kruljac, Robert Fetkin, John Sondereker and Richard Thornburgh, The Chosen Vron is out of the Tiz Wonderful mare Tiz Molly and was bred in California by Tiz Molly Partners. A 6 ½-length maiden winner versus statebreds here on Dec. 27, he's now got a pair of graded stakes wins and an overall mark of 5-4-0-1. With the winner's share of $60,000, The Chosen Vron increased his earnings to $270,600.

Defunded, who was ridden by Abel Cedillo, finished 11 lengths in front of Classier and paid $3.00 and $2.10 while off at 3-1.

Classier, idle since well beaten in the G1 Breeders' Cup Juvenile at Keeneland Nov. 6, was off as the 7-5 favorite with Flavien Prat and with no apparent excuses, paid $2.10 to show while finishing 14 lengths clear of Mr. Impossible.

Fractions on the race were 23.25, 46.34, 1:10.82 and 1:37.23.

Three days remain in Santa Anita's current Winter/Spring Meeting, with first post time for an 11-race card on Friday at 1 p.m.

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Rideforthecause Upsets Dogtag In Possibly Perfect At Santa Anita

Trainer Michael McCarthy's longshot Rideforthecause had three lengths to make up with a furlong to run, but she kept to her task and was able to nip heavily favored Dogtag by a head in Sunday's $75,000 Possibly Perfect Stakes at Santa Anita in Arcadia, Calif. Ridden by Mario Gutierrez, Rideforthecause got a mile and one quarter on turf in 2:02.45.

With defending champ Dogtag and Peruvian-bred Kuora sparring on the front end early, Dogtag, ridden by Umberto Rispoli, took charge around the far turn and just missed in a big effort.

Most recently second, beaten a nose by today's third-place finisher, Neige Blanche, in the Grade 3 Santa Barbara Stakes May 8, Rideforthecause was off at 7-1 in a field of eight fillies and mares three and up and paid $16.00, $4.60 and $3.20.

“I think I got to know her a little bit better, but even though last time, if you watch the replay, it was just the luck of the (head-bob),” said Gutierrez, who was aboard for the third consecutive time today. “I knew it was going to be tough to catch (Dogtag) but my filly, every time I would ask her and would push her, she was giving me all she can…I looked for the wire and it was a little far, so I wasn't 100 percent confident. But I knew she was charging all the way until the end.”

Owned by Alpha Delta Stables, LLC, Rideforthecause, a 5-year-old Ontario Canadian-bred mare by Candy Ride out of the Giant's Causeway mare Danceforthecause. A G2 winner at Woodbine this past September, she was making her fourth start for McCarthy today and she now has two stakes wins and an overall mark of 15-5-1-1. With the winner's share of $48,840, she increased her earnings to $361,066.

The 1-2 favorite, Dogtag paid $2.40 and $2.10 while finishing three quarters of a length in front of Neige Blanche.

Ridden by Juan Hernandez, French-bred Neige Blanche was off at 6-1 and paid $3.60 to show.

Fractions on the race were 25.42, 51.22, 1:15.33 and 1:38.70.

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