The future of Baltimore’s historic Pimlico Race Course, home to the prestigious Preakness Stakes, hangs in the balance. In a last-minute move, Maryland lawmakers have approved a plan to rebuild the aging track and transfer its ownership to the state.
The clock is ticking as the bill, which passed the Maryland House with a 105-32 vote, now heads to the desk of Democrat Gov. Wes Moore. The governor has expressed his support for the measure, emphasizing the importance of protecting the horse racing industry and its significant impact on the state’s history and future.
Under the proposed plan, a whopping $400 million in state bonds will be used to breathe new life into Pimlico. The Stronach Group, the current owner of both Pimlico and nearby Laurel Park, will hand over the reins to a newly formed nonprofit that will operate under the state’s watchful eye.
As part of the rebuilding process, the Preakness will temporarily relocate to Laurel Park in 2026, with the intention of returning to a revamped Pimlico in 2027. This move coincides with the Belmont Stakes’ own two-year hiatus at Saratoga Race Course while Belmont Park undergoes its own $455 million facelift.
The bill’s journey through the legislature was not without its hurdles, as concerns arose over the state’s potential liability for operating costs. To address these issues, the measure was amended to use horse racing purse accounts to cover any operating losses.
The state has been grappling with the question of how to restore the iconic racetrack for decades. Affectionately known as Old Hilltop, Pimlico first opened its gates in 1870 and has seen legendary horses like Man o’ War, Seabiscuit, and Secretariat gallop to victory. However, the track’s age has become a growing concern, with attendance numbers dwindling in recent years.
The horse racing industry has long been a cornerstone of Maryland’s culture and agriculture, boasting an estimated $2 billion direct economic impact on the state. As the bill moves forward, the future of Pimlico and the Preakness hangs in the balance, with the potential to usher in a new era for this beloved Maryland institution.
The Associated Press contributed to this article.