AURORA, ON, July 30 /PRNewswire-FirstCall/ — Magna Entertainment Corp. (”MEC” or the “Company”) (NASDAQ: MECAD; TSX: MEC.A) today announced that it has extended the maturity date of its $40.0 million senior secured revolving credit facility with a Canadian chartered bank to August 15, 2008.
MEC, North America’s largest owner and operator of horse racetracks, based on revenue, 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(R), 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 press 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 anticipated maturity date of our senior secured revolving credit facility and other matters that are not historical facts.
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 our control, that could cause actual events or results to differ materially from such forward-looking statements. Important 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; our ability to obtain or maintain government and other regulatory approvals necessary or desirable to proceed with proposed real estate developments; increased regulation affecting certain of our non-racetrack operations, such as broadcasting ventures; 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 we will continue with our efforts to implement our September 12, 2007 adopted plan to eliminate the Company’s debt (though not on the originally contemplated time schedule) and comply with the terms of and/or obtain waivers or other concessions from our lenders and refinance or repay on maturity our existing financing arrangements (including our short-term bridge loan facility of up to $110.0 million with a subsidiary of our controlling shareholder, MI Developments Inc., and the senior secured revolving credit facility with a Canadian chartered bank), and there will not be any material adverse changes in: general economic conditions; the popularity of horse racing and other gaming activities; weather and other environmental conditions at our facilities; 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.
Magna Entertainment Corp.

ESPN Broadcasts Begin This Week
HONG KONG, July 22 /Xinhua-PRNewswire-FirstCall/ — GigaMedia Limited today announced that the World Series of poker — sponsored by GigaMedia’s Everest poker product — has successfully completed the first portion of the main event and will begin showing this week on ESPN television broadcasts.
In its first year of sponsorship by Everest Poker, the 2008 World Series of poker (WSOP(R)) is the largest and richest in history with over 58,000 participants playing for a prize pool of over $180 million. Players from 118 different countries have participated, up significantly from 87 different countries last year.
Broadcasts of the 2008 WSOP begin this week on ESPN and will ultimately reach in excess of 300 million households globally.
Everest poker is one of the world’s most popular poker sites, was named poker Operation of the Year in 2007 by industry journal e-Gaming Review, and is the new sponsor of the WSOP.
In March 2008, Everest poker and Harrah’s Entertainment, Inc. signed a multiyear agreement providing Everest poker satellite tournament rights and strategic brand placement at the WSOP, including Everest Poker’s logo appearing prominently on the “felt” on every table in the competition and during the finals competition on the inner rung of the WSOP feature table, a first for a WSOP sponsor.
Everest poker is exclusively powered by GigaMedia software. Everest’s innovative suite of world-class poker offerings include tutorials, training rooms and a strong support services, all fully localized in 15 languages. More information on Everest poker is available at .
About GigaMedia
GigaMedia Limited (Singapore registration number: 199905474H) is a major provider of online entertainment software and services. GigaMedia develops and licenses software for online gaming. GigaMedia also operates online games businesses including FunTown, a leading Asian casual games portal in Taiwan and the world’s largest online MahJong game site in terms of revenue, and T2CN, a leading online sports game operator in China. More information on GigaMedia can be obtained from .
The statements included above and elsewhere in this press release that are not historical in nature are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the Company’s current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedia’s Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in June 2008.
For further information contact:

Brad Miller
Investor Relations Director
Tel: 886-2-2656-8016
Email:
GigaMedia Limited

AURORA, ON, July 16 /PRNewswire-FirstCall/ — Magna Entertainment Corp. (”MEC” or the “Company”) (NASDAQ: MECA; TSX: MEC.A) today announced that it has completed the sale of Great Lakes Downs to The Little River Band of Ottawa Indians for $5.0 million cash less customary closing adjustments. Great Lakes Downs, situated on approximately 85 acres in Muskegon, Michigan, was a racetrack which MEC had previously closed in November 2007. The net sale proceeds of approximately $4.5 million have been used to partially repay the Company’s bridge loan with a subsidiary of MI Developments Inc., MEC’s controlling shareholder.
MEC, North America’s largest owner and operator of horse racetracks, based on revenue, 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(R), 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 press 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 partial repayment of the bridge loan facility and other matters that are not historical facts.
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 our control, that could cause actual events or results to differ materially from such forward-looking statements. Important 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; our ability to obtain or maintain government and other regulatory approvals necessary or desirable to proceed with proposed real estate developments; increased regulation affecting certain of our non-racetrack operations, such as broadcasting ventures; 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 we will be able to successfully implement our debt elimination plan and comply with the terms of and/or obtain waivers or other concessions from our lenders and refinance or repay on maturity our existing financing arrangements (including our senior secured revolving credit facility with a Canadian chartered bank and our bridge loan facility), and there will not be any material adverse changes in: general economic conditions; the popularity of horse racing and other gaming activities; weather and other environmental conditions at our facilities; 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.
Magna Entertainment Corp.

LAS VEGAS, July 7 /PRNewswire/ — The 39th annual World Series of poker (WSOP) presented by Milwaukee’s Best Light, drawing on its unprecedented international appeal, has proved largely impervious to the challenging economic conditions plaguing the broader U.S. economy. When registration for the WSOP’s most popular event closed Sunday evening at the Rio All-Suite Hotel and Casino, the poker extravaganza had shattered the game’s most prominent records:
– Most total registrants. More than 58,500 players have competed in the 55 events at this year’s WSOP, eclipsing the previous record of 54,288 set in 2007.
– Largest total prize pool. At more than $180 million, the 2008 WSOP prize pool far surpassed the previous record of $159,796,918 set last year.
– Most countries/territories represented. Not including Main Event participants, players from 104 different countries/territories have competed in 2008 WSOP events — more than in the 2006 Winter Olympics. The previous record number of countries represented at the WSOP was 87, also set in 2007.
– Largest non-Main Event field: 3,929 players each put up $1,500 to compete in the 2008 WSOP’s first no-limit hold’em tournament that began May 31.
– First Family: The Hinkle brothers, from Kansas City, Mo., became the first-ever set of brothers to win bracelets in the same year. Grant won Event #2 and $831,432; Blair won Event #23 and $507,563. The Hinkles become only the second set of brothers to win bracelets at the WSOP, joining the Pearsons: Puggy (1973) and J.C. (1994).
To view the Multimedia News Release, go to:
“This has been an incredible season and we’re not done yet,” said World Series of poker Commissioner Jeffrey Pollack. “So far, players from 56 countries, every state in the U.S. and every Canadian province have cashed at this year’s WSOP. When all is said and done, we’re going to award more prize money to more players than at any other point in our illustrious 39-year history.”
The 39th annual World Series of poker began May 30 and runs through July 14 at the Rio All-Suite Hotel and Casino in Las Vegas. The Main Event, which required four start dates to accommodate the field of 6,844 players, began on July 3 and is the second-largest live poker tournament ever held. The Final Table will be determined on July 14. The nine players who advance to the Final Table will return to the Rio on Nov. 9 to play down to just two players. The final two will then go head-to-head late in the evening of Nov. 10 to determine the champion and winner of poker’s ultimate prize. The final eight competitors will each win at least $1 million, with the first-place finisher will receiving a staggering $9.1 million.
ABOUT THE WSOP
The World Series of poker (WSOP) presented by Milwaukee’s Best Light is the largest, richest and most prestigious gaming event in the world. Featuring a comprehensive slate of tournaments in every major poker variation, the WSOP is poker’s longest running tournament in the world, dating back to 1970. In 2007, the event attracted more than 54,000 entrants from 87 different countries to the Rio All-Suite Hotel and Casino in Las Vegas and awarded just under $160 million in prize money as players competed for game’s most coveted trophy, a WSOP bracelet. Harrah’s License Company, LLC., an affiliate of Harrah’s Entertainment, Inc., has owned and operated the WSOP since 2004 and over the last four years, fostered an increase in player participation by nearly 300-percent. In addition, the WSOP has experienced groundbreaking alliances in broadcasting, digital media and corporate sponsorships, while successfully expanding the brand internationally with the advent in 2007 of the World Series of poker Europe. For more information on the World Series of Poker, please visit our website at .
ABOUT HARRAH’S ENTERTAINMENT, INC.
Harrah’s Entertainment, Inc. is the world’s largest provider of branded casino entertainment. Since its beginning in Reno, Nevada, more than 70 years ago, Harrah’s has grown through development of new properties, expansions and acquisitions, and now owns or manages casinos on four continents. The Company’s properties operate primarily under the Harrah’s(R), Caesars(R) and Horseshoe(R) brand names; Harrah’s also owns the London Clubs International family of casinos and the World Series of Poker(R). Harrah’s Entertainment is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. For more information, please visit .

Harrah’s Entertainment, Inc.