As of April 1, Magna Entertainment Corporation will no longer be listed on the Toronto Stock Exchange because of continued failure to meet listing requirements, the company said in a statement today.
The horse racetrack owner and operator said the delisting of its “Class A Subordinate Voting Shares” will be effective at the close of market on April 1.
According to the Toronto Star, the horse racetrack operator has accumulated a “mountain of debt” through the years, and its stock price has plummeted -- tumbling from $11 in June 2008 to its current price of 35 cents.