Magna Entertainment Corp. announces ten-year deal between AmTote and Attractions Hippiques Québec Inc.

    AURORA, ON, Aug. 29 /CNW/ - Magna Entertainment Corp. ("MEC") (NASDAQ:  
MECA; TSX: MEC.A) announced today that its wholly-owned subsidiary AmTote
Canada, Inc. ("AmTote Canada") has entered into a Totalisator Service
Agreement with Attractions Hippiques Québec Inc. ("AHQ"), which owns and
manages racetracks in Montreal, Quebec City, Aylmer and Trois-Rivières, as
well as the Hippo Clubs du Québec off-track network and PariTel / WebPhoneBet
account wagering services. AmTote Canada will continue to be the tote services
provider to AHQ for a 10-year term commencing January 2008. Financial terms
were not disclosed.
    "We are excited at continuing to develop our relationship with AHQ" says
Steve Keech, President of AmTote International, Inc. ("AmTote"). "By providing
patrons of AHQ with proven pari-mutuel wagering technology, along with new
wagering tools derived from our significant investment in wagering innovation,
we expect to help AHQ revitalize harness racing in Quebec. Building on our
recent long-term partnership with Woodbine Entertainment Group, this
transaction represents another vote of confidence in AmTote and our commitment
to horseracing world wide."
    "At AHQ, we seek to work closely with proven industry players who provide
innovative services and are passionate about the success of the horse racing
industry. Simply put, AmTote fits this model", says Ian Wetherly, Chief
Operating Officer for Attractions Hippiques Québec Inc.
    AmTote, headquartered in Hunt Valley, Maryland, is a global provider of
totalisator and wagering technology. AmTote currently has service contracts
with over 70 customers worldwide, including North American and international
racetracks, sports books, and online wagering entities.

    MEC, North America's largest owner and operator of horse racetracks,
based on revenue, acquires, develops, owns and operates horse racetracks and
related pari-mutuel wagering operations, including off-track betting
facilities. MEC also develops, owns and operates casinos in conjunction with
its racetracks where permitted by law. MEC owns and operates AmTote
International, Inc., a provider of totalisator services to the pari-mutuel
industry, XpressBet(R), a national Internet and telephone account wagering
system, as well as MagnaBet(TM) internationally. Pursuant to joint ventures,
MEC has a fifty percent interest in HorseRacing TV(TM), a 24-hour horse racing
television network, and TrackNet Media Group LLC, a content management company
formed for distribution of the full breadth of MEC's horse racing content.

    This media release contains "forward-looking statements" within the
meaning of applicable securities legislation, including Section 27A of the
United States Securities Act of 1933, as amended (the "Securities Act"), and
Section 21E of the United States Securities Exchange Act of 1934, as amended
(the "Exchange Act") and forward-looking information as defined in the
Securities Act (Ontario) (collectively referred to as forward-looking
statements). These forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995 and
the Securities Act (Ontario) and include, among others, statements regarding
the expected impact of entering into the tote services agreement.
    Forward-looking statements should not be read as guarantees of future
performance or results, and will not necessarily be accurate indications of
whether or the times at or by which such performance or results will be
achieved. Undue reliance should not be placed on such statements. Forward-
looking statements are based on information available at the time and/or
management's good faith assumptions and analyses made in light of our
perception of historical trends, current conditions and expected future
developments, as well as other factors we believe are appropriate in the
circumstances and are subject to known and unknown risks, uncertainties and
other unpredictable factors, many of which are beyond the Company's control,
that could cause actual events or results to differ materially from such
forward-looking statements. Factors that could cause actual results to differ
materially from our forward-looking statements include, but may not be limited
to, material adverse changes: in general economic conditions, the popularity
of racing and other gaming activities as recreational activities, the
regulatory environment affecting the horse racing and gaming industries, and
our ability to develop, execute or finance our strategies and plans within
expected timelines or budgets. In drawing conclusions set out in our
forward-looking statements above, we have assumed, among other things, that
there will not be any material adverse changes: in general economic
conditions, the popularity of horse racing and other gaming activities, the
regulatory environment, and our ability to develop, execute or finance our
strategies and plans as anticipated.
    Forward-looking statements speak only as of the date the statements were
made. We assume no obligation to update forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors affecting
forward-looking statements. If we update one or more forward-looking
statements, no inference should be drawn that we will make additional updates
with respect thereto or with respect to other forward-looking statements.

For further information:

For further information: Blake Tohana, Executive Vice-President and
Chief Financial Officer, Magna Entertainment Corp., 337 Magna Drive, Aurora,
ON, L4G 7K1, Tel: (905) 726-7493

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