Gulfstream Park parent files for Chapter 11 protection

Magna Entertainment, which owns Gulfstream Park, has requested Chapter 11 bankruptcy protection and says it plans to sell the racetrack and poker room, the <a href="http://www.miamiherald.com/business/story/935130.html">Miami Herald</a> reports.

Track officials says it'll remain "business as usual" at the track throughout proceedings, and that a massive retail development on the property is moving forward.