01/15/2002 12:00AM

Stronach son in new venture

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Andy Stronach, the son of Magna Entertainment chairman Frank Stronach, no longer works at his father's company and has started his own business concentrating on racing technology. Andy Stronach was previously the vice president for corporate development of Magna Entertainment, which owns eight Thoroughbred racetracks.

Andy Stronach did not return a call a seeking comment, but two executives who have worked with him recently confirmed that he is no longer employed by Magna.

Steve Molnar, a former executive of Youbet.com, said Tuesday that he is currently performing consulting work for Andy Stronach's new company, Futuristic Entertainment. The company is developing a "new type of SAM machine, so to speak, except it has a gaming interface," Molnar said, referring to self-automated mutuel machines. "The wheels spin, it makes all kinds of noises, has whistles." Molnar declined to give details about how Futuristic was being financed.