04/26/2004 11:00PM

Hastings CEO Heard resigns

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Phil Heard has resigned as president and CEO of Hastings Entertainment Inc. Heard, who took over as CEO at Hastings in April 2000, said he was reluctant to give up his post but that it would be difficult for him to continue under the new management.

Great Canadian Gaming Corporation and Peter Wall bought Hastings Inc. from Woodbine for $20.1 million on April 8. Heard began his tenure under the Pacific Racing Association and was instrumental in the sale of Hastings Racecourse to Woodbine in 2002.

"I still felt that I had a lot to do," said Heard. "I certainly like the business and felt that we had a good team at Hastings, but it just wasn't going to work out."

Representatives of Great Canadian Gaming Corporation and the Wall Financial Group declined to comment.