Tim Ritvo To Depart The Stronach Group

The Stronach Group Announces Management Update

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Mar 02, 2020, 16:00 ET

HALLANDALE BEACH, Fla., March 2, 2020 /PRNewswire/ -- The Stronach Group announced today that Tim Ritvo, Chief Operating Officer, will step away from the company effective March 2, 2020 to pursue new opportunities. Ritvo has held several roles in his tenure with the company moving from General Manager of Gulfstream Park in Hallandale Beach, Florida to become the company's Chief Operating Officer.

"I want to thank Tim for his 24/7, day-in and day-out commitment to our company and our sport and for the invaluable contributions he has made to the repositioning and profitability of our business. I wish Tim success and we look forward to continuing our positive and productive relationship together," said Belinda Stronach, Chairman and President, The Stronach Group. "I have tremendous confidence in our 1/ST Racing Team, led by Craig Fravel, and their ongoing commitment to evolving our racing platform with the highest level of integrity and forward-thinking that will drive our company's growth for the future."

"Over the past decade, Tim has applied his life-long passion and knowledge for the sport to our company's core racing operations functions and has positioned 1/ST Racing for continued growth," said Craig Fravel, Chief Executive Officer, 1/ST Racing. "Tim's contributions will be leveraged by 1/ST Racing as we continue to set a new competitive standard in Thoroughbred racing that puts horse and rider safety at the forefront."

"I am honored to have been part of The Stronach Group and am proud of the accomplishments that we have made for the industry across our racing and training programs," said Tim Ritvo. "As a former jockey, passionate fan and life-long horseman, I am grateful to have been a part of the team. I have learned so much and want to thank everyone that I have worked with over the years for their support. I look forward to the next chapter in my professional career."

Ritvo played an important role across the core racing operations functions of the company, most notably he turned around the operations at Gulfstream Park and positioned it for profitability and future growth. In addition to his contributions at Gulfstream Park, Ritvo has led operations at Santa Anita Park and the Maryland Jockey Club and has helped to build the profile and success of the company's premier events, including the Preakness and the Pegasus World Cup Championship Invitational Series.

The Stronach Group has no immediate plans to fill the position.

About The Stronach Group
The Stronach Group is a world-class technology, entertainment and real estate development company with Thoroughbred racing and pari-mutuel wagering at the core. The company's consumer facing brand 1/ST (pronounced "First") powers The Stronach Group's forward-thinking 1/ST Racing, 1/ST Technology, 1/ST Live and 1/ST Properties businesses, while advocating for and driving the 1/ST Horse Care mission. 1/ST represents The Stronach Group's continued movement toward redefining Thoroughbred racing and the ecosystem that drives it. 1/ST Racing drives the best-in-class horse racing operations at the company's premier racetracks and training centers including: Santa Anita Park, Golden Gate Fields and San Luis Rey (California); Gulfstream Park – home of the Pegasus World Cup Championship Invitational Series, and Gulfstream Park West (Florida); and Laurel Park, Pimlico Race Course - home of the legendary Preakness Stakes, Rosecroft Raceway and Bowie Training Center (Maryland). 1/ST Technology is horse racing's largest racing and gaming technology company offering world-class products via its AmTote, Xpressbet, 1/ST BET, XB SELECT, XB NET, PariMAX, Betmix, Monarch and XBTV brands. 1/ST Live blends the worlds of sports, entertainment and hospitality by delivering uniquely curated events such as InfieldFest and Pegasus LIV Stretch Village. 1/ST Properties is responsible for the development of the company's live, work and play communities surrounding its racing venues including, The Village at Gulfstream Park (Florida) and Paddock Pointe (Maryland). As the advocate for critical industry reforms and by making meaningful investments into aftercare programs for retired horses and jockeys, 1/ST Horse Care represents The Stronach Group's commitment to achieving the highest level of horse and rider care and safety standards in Thoroughbred racing on and off the track. For more information please visit www.1st.com.