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                                                                    EXHIBIT 23.1


                         CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the caption "Experts" and to the
use of our report dated February 2, 2001 with respect to the consolidated
financial statements of Magna Entertainment Corp. included in the Registration
Statement (Form S-3) and related prospectus of Magna Entertainment Corp. for the
registration of Debt Securities, Warrants to purchase Debt Securities, Warrants
to purchase Class A Subordinate Voting Stock and Class A Subordinate Voting
Stock.

We also consent to the incorporation by reference therein of our report dated
February 2, 2001 with respect to the financial statement schedule of Magna
Entertainment Corp as of December 31, 2000 included in the Annual Report (Form
10-K) for 2000 filed with the Securities and Exchange Commission.

                                                         /s/ Ernst & Young LLP
                                                         ---------------------
                                                         Chartered Accountants

September 28, 2001
Toronto, Canada