ANAPOLIS, Maryland – Maryland Gov. Wes Moore signed a measure Thursday to rebuild Baltimore’s historic but antiquated Pimlico Race Course and transfer the track to state control.
Under the new law, Maryland can use $400 million in state bonds to rebuild the home of the second jewel in horse racing’s Triple Crown, the Preakness Stakes. The 149th edition of the race is scheduled for May 18.
“Because of this bill, we have a path forward to continue running the Preakness in Maryland and renovate the historic Pimlico Race Course,” said Maryland House Speaker Adrienne Jones, a Democrat, as Moore nodded in agreement. a ceremony. create lasting economic benefits for the state and the Baltimore region.”
The plan also calls for transferring Pimlico from the Stronach Group, which is the current owner of Pimlico and neighboring Laurel Park, to a newly formed nonprofit organization that would operate under state control.
Under the plan, the Preakness would move to Laurel Park in 2026 while new facilities are being built, before returning to Pimlico, likely in 2027. The temporary move would come at a time when the third Triple Crown race, Belmont Stakes, is scheduled to return. to Belmont Park after a two-year hiatus at Saratoga Race Course while the New York track undergoes a $455 million reconstruction.
“The state of Maryland is investing in the sport of racing in a similar way to what New York has already done,” said Tom Rooney, president and CEO of the National Thoroughbred Racing Association, who is also a member of the Maryland Thoroughbred Racetrack Operating Authority. “I know I speak for those of us who are in the sport, there is a lot to be excited about and optimistic about as we continue into the Triple Crown season.”
Maryland lawmakers approved a plan in 2020 to rebuild the track, but it never got off the ground. The new plan increases the amount of state bonds to be used from US$375 million to US$400 million. The plan also calls for a training center, with details to be determined.
Aptly nicknamed Old Hilltop, the track opened in 1870. It’s where Man o’ War, Seabiscuit, Secretariat and many others paraded to the winner’s circle. It is the second oldest racetrack in the country, behind only Saratoga, which debuted in 1864.
But Pimlico’s age was always a concern. In 2019, the Maryland Jockey Club closed nearly 7,000 grandstand seats, citing the “safety of all guests and employees.” The Preakness has struggled to achieve pre-pandemic attendance numbers in recent years, falling to 65,000 people in 2023 on Fridays and Saturdays compared to more than 180,000 on the same days four years earlier.
At the end of last year’s legislative session, the Maryland Thoroughbred Racetrack Operating Authority was created and tasked with re-analyzing options, and made recommendations in January to invest in Pimlico to take a greater role in holding races.
The horse racing industry has long played an important role in Maryland culture. The automobile and other equine industries have been a cornerstone of Maryland agriculture, as well as an integral part of preserving green spaces. The equine industry has an estimated direct economic impact of $2 billion on the state.
