A new plan for reviving thoroughbred horse racing in Maryland would center the industry around a revitalized Pimlico Race Course in Park Heights that would be owned by a new state entity.

That’s the thrust of a report issued Friday by a state authority charged with charting a future for an industry that has struggled to find success at run-down, privately-owned tracks.

Maryland Gov. Wes Moore announced Friday morning that the state and Pimlico’s current owner, the Stronach Group, have “reached the framework of an agreement in principle” that involves the company turning over the racetrack to the state to renovate, redevelop and run it. The track would be leased to new operators who would continue to be home of the Preakness Stakes race each May, as well as year-round racing and training.

During a three-year redevelopment phase, the Preakness would move to Laurel Park in Anne Arundel County, which currently hosts most of the state’s thoroughbred racing dates.

At the end of redevelopment, Pimlico is envisioned to be an up-to-date track with a hotel, parking garage and other developments around it. The state would pay for the renovations to the track facility itself — using about $400 million in existing racing subsidies previously identified for the work — while private investors would handle the other improvements, Moore administration officials said.

The story continues at The Baltimore Banner:
New plan for horse racing focuses on revitalizing Pimlico Race Course

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