EXHIBIT 23.8


                        CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the caption "Experts" in this
Registration Statement (Form S-3) and related prospectus of Magna Entertainment
Corp. for the registration of 7,309,884 shares of its Class A Subordinate Voting
Stock and to the incorporation by reference therein of our reports dated
February 15, 2001 and January 28, 2000, with respect to the financial statements
of Ladbroke Racing Pennsylvania, Inc. and Subsidiaries included in the Current
Report on Form 8-K/A of Magna Entertainment Corp. filed with the Securities and
Exchange Commission pursuant to the Securities and Exchange Act of 1934 on June
19, 2001.

                                                    /s/ Ernst & Young LLP
                                                    ---------------------
                                                    Certified Public Accountants

September 7, 2001
Pittsburgh, Pennsylvania