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FORM 3UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Azalea 2008 Trust

(Last)(First)(Middle)
C/O MILLER THOMSON LLP, SCOTIA PLAZA, 40 KING STREET WEST, SUITE 5800

(Street)
TORONTOA6M5H 3S1

(City)(State)(Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
11/25/2008
3. Issuer Name and Ticker or Trading Symbol
MAGNA ENTERTAINMENT CORP [MECA]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Subordinate Voting Stock 628,570 (1)
D
 
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)4. Conversion or Excercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The shares reported herein are held directly by The Azalea 2008 Trust. Timothy Jones is the sole director and officer of 2191273 Ontario Inc. ("2191273"), which is the trustee of The Azalea 2008 Trust. The reporting person and joint filers disclaim beneficial ownership of the securities covered by this statement in excess of their pecuniary interest therein.
/s/ Timothy Jones, Director of 2191273 Ontario Inc., as Trustee for The Azalea 2008 Trust12/05/2008
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

EX-99.1

rrd202093_227791.html
Joint Filer Information

Name:  2191273 Ontario Inc.

Address:c/o Miller Thomson LLP
Scotia Plaza
40 King Street West, Suite 5800
Toronto, Ontario, Canada 
M5H 3S1

Designated Filer:  The Azalea 2008 Trust

Issuer & Ticker Symbol:  Magna Entertainment Corp. (MECA)

Date of Event Requiring Statement:  November 25, 2008

Signature:2191273 Ontario Inc.


By: /s/ Timothy Jones
Name: Timothy Jones
Title: Director



Name:  Timothy Jones

Address:c/o Miller Thomson LLP
Scotia Plaza
40 King Street West, Suite 5800
Toronto, Ontario, Canada 
M5H 3S1

Designated Filer:  The Azalea 2008 Trust

Issuer & Ticker Symbol:  Magna Entertainment Corp. (MECA)

Date of Event Requiring Statement:  November 25, 2008

Signature:/s/ Timothy Jones
Timothy Jones





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