Ownership of Pimlico Race Course to be transferred to the state of Maryland

Ownership of Pimlico Race Course to be transferred to the state of Maryland

The Maryland Board of Public Works has approved the agreement.

US.- The Board of Public Works has approved an agreement to transfer ownership of Pimlico Race Course from The Stronach Group to the state of Maryland. Governor Moore had previously signed the Horse Racing-Racing Facility Ownerships and Construction Racing Operations bill, which provides funding and authorisation for the deal.

The ownership of Pimlico will pass to the Maryland Thoroughbred Racetrack Operating Authority for one dollar as of July 1. The state will lease Laurel Park racetrack for three years as of January 1, 2025, for one dollar per year, and races will be held there while construction is underway at Pimlico. After construction is complete, The Stronach Group will retain ownership of Laurel Park and will be able to sell or redevelop the property for non-racing use.

As well as the renovation of Pimlico facilities, including the racetrack and hotel and event space construction, a $10m investment through the Department of Housing and Community Development to promote housing, job training, and workforce development, a new off-site training facility and establishment of a non-profit to operate racing.

Moore said: “When it comes to projects with generational impact, our administration has made it clear that we aren’t just focused on closing a deal – we’re focused on driving economic development in all of our communities. Just days before the 149th running of the Preakness Stakes, we have reached an agreement that will keep horse racing at Pimlico for generations and will deliver economic prosperity for the City of Baltimore.

“Thank you to the General Assembly, the Maryland Thoroughbred Racetrack Operating Authority, The Stronach Group, 1/ST and the Maryland Jockey Club for their partnership in getting this agreement to the finish line.”

Maryland Thoroughbred Racetrack Operating Authority chair Greg Cross added: “With the approval and signing of these agreements, we will put Maryland horse racing on a solid foot for the future.”

The Stronach Group chief executive officer, president and chair Belinda Stronach, commented: “Thanks to the support of Governor Moore and to the partnership of the Maryland Thoroughbred Racetrack Operating Authority under the leadership of Greg Cross, a sustainable and bright new future for the Thoroughbred racing industry in Maryland has been secured.”

Maryland casinos generate $163.2m in gaming revenue in April

Maryland’s six casinos generated $163.2m in gaming revenue in April, down 6.6 per cent compared to April 2023 and 8.3 per cent compared to March 2024. The Maryland Lottery and Gaming Commission reported that MGM National Harbor led with $68m in revenue.

MGM National Harbor was followed by Live! Casino & Hotel, with revenue of $60.8m. Horseshoe Casino generated $14.6m, Hollywood Casino $7.9m, Ocean Downs Casino $7.3m and Rocky Gap Casino $7.2m.

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