The Toronto Stock Exchange has speeded up its review Magna Entertainment Corp.’s listing eligibility, the company announced on Thursday.
According to the Toronto Star, the horse racetrack operator has accumulated a “mountain of debt” through the years, and its stock price has plummeted -- falling from $19.39 in March 2008 to its current price of 30 cents.
In late January, Charlie J. Williams stepped down as the company’s director due to other pressing business issues.