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Gulfstream Revamp 1: US$171m Clubhouse
In Florida, Magna Entertainment has increased its renovation budget at Gulfstream Park by 18.3%: "from US$145 million to a current projected cost of US$171.5 million" reported thoroughbredtimes.com. A "significant portion of the budgeted increase will go toward construction of the track's clubhouse, which incurred higher material & labor costs as well as delays due to this year's active hurricane season". Magna President Tom Hodgson commented: "Despite the higher capital requirements now envisioned to complete the construction project at Gulfstream Park, we remain very excited about the opening of one of the country's premier horse racing & entertainment venues in January 2006."