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Filed pursuant to Rule 424(b)(3)
File No. 333-102889
PROSPECTUS SUPPLEMENT NO. 8
(To Prospectus dated May 16, 2003)
MAGNA ENTERTAINMENT CORP.
$75,000,000
7 1/4% CONVERTIBLE SUBORDINATED NOTES DUE DECEMBER 15, 2009 AND
SHARES OF CLASS A SUBORDINATE VOTING STOCK ISSUABLE
UPON THE CONVERSION OF THE NOTES
This prospectus supplement further supplements the prospectus dated May 16,
2003 of Magna Entertainment Corp., as supplemented on October 14, 2003, December
5, 2003, January 23, 2004, February 17, 2004, May 6, 2004, June 18, 2004 and
November 4, 2004 relating to the sale from time to time by certain of our
securityholders (including their future pledgees, donees, assignees, transferees
or successors) of up to $75,000,000 aggregate principal amount of our 7 1/4%
Convertible Subordinated Notes due December 15, 2009 and the shares of Class A
Subordinate Voting Stock issuable upon conversion of the notes. You should read
this prospectus supplement in conjunction with the prospectus, and this
prospectus supplement is qualified by reference to the prospectus, except to the
extent that the information in this prospectus supplement supersedes the
information contained in the prospectus.
The table of selling securityholders contained in the prospectus is hereby
amended to update the information for the following selling securityholder:
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NUMBER OF SHARES
OF CLASS A
AGGREGATE SUBORDINATE
PRINCIPAL AMOUNT VOTING STOCK THAT
OF NOTES THAT MAY MAY BE SOLD UNDER PERCENTAGE OF
BE SOLD UNDER PERCENTAGE OF THIS PROSPECTUS SHARES
NAME THIS PROSPECTUS NOTES OUTSTANDING (1) OUTSTANDING (2)
- --------------------------------- ----------------- ----------------- ------------------ ---------------
BMO Nesbitt Burns Inc. $25,000 * 2,941 *
</Table>
* Less than one percent (1%)
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(1) The number of shares of Class A Subordinate Stock beneficially owned and
being offered, as set forth in the table, has been determined in accordance
with Rule 13d-3 under the Securities Exchange Act, includes shares of Class
A Subordinate Voting Stock into which the notes are convertible, and
assumes a conversion price of $8.50 per share of Class A Subordinate Voting
Stock and the payment of cash in lieu of fractional shares. In addition,
the conversion price of the notes may be adjusted under certain
circumstances which will change the number of shares of Class A Subordinate
Voting Stock received upon their conversion. See "Description of the Notes
- Conversion of the Notes" in the prospectus.
(2) Calculated based on Rule 13d-3(d)(i) of the Securities Exchange Act, using
48,674,796 shares of Class A Subordinate Voting Stock outstanding as of
March 17, 2003. In calculating this percentage for each holder, we treated
as outstanding the number of shares of Class A Subordinate Voting Stock
issuable upon the conversion of all that holder's notes, but we did not
assume conversion of any other holders' notes, or include any other shares
of Class A Subordinate Voting Stock that may be held by such holder. Does
not include shares of Class A Subordinate Voting Stock that may be issued
by us upon redemption or purchase of the notes by us at the option of the
holder.
Investing in the notes or shares of our Class A Subordinate Voting Stock
involves risks that are described in the "Risk Factors" section beginning on
page 3 of the prospectus.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE
ADEQUACY OR ACCURACY OF THIS PROSPECTUS SUPPLEMENT, AND ANY REPRESENTATION TO
THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this prospectus supplement is November 29, 2004.