Laurel Park to go before Board of Public Works as some question horse racing investments

BALTIMORE (WBFF) — Maryland is preparing to make another investment in the future of horse racing with the possible purchase of the Laurel Park facility in Anne Arundel County.

The Laurel Race Track is on the agenda for Maryland’s Board of Public Works meeting Wednesday with a price tag of $48.5 million. The likely acquisition comes after the collapse of the state’s plan to turn Shamrock Farm in Carroll County into a thoroughbred race facility.

Wednesday’s possible vote comes as Maryland has already committed hundreds of millions of dollars to preserve the state’s horse racing industry, including the redevelopment of Pimlico Race Course, the purchase of the Preakness Stakes intellectual property rights, and now Laurel Park.

But lawmakers continue to question how much Maryland should invest in an industry facing an uncertain future.

“The last couple of years, what we’re doing is just subsidizing and subsidizing and subsidizing, and we’ve turned horse racing into a state-owned industry,” House Minority Leader Jason Buckel said.

Buckel, R-Allegany, acknowledged Maryland needs a permanent training facility but questioned the scale of the state’s investment.

“It may be the only solution today because we’ve bungled so much along the way,” Buckel said.

The planned purchase of Laurel Park comes after the state scrapped a plan to turn Shamrock Farm into a training facility.

In May, members of the Legislative Policy Committee asked the state to pause the Laurel Park purchase until officials completed a cost-benefit analysis, writing that “not much is known about the costs associated with the construction of a facility at Shamrock Farm or Laurel Park.”

Records obtained by FOX45 News show the Maryland Stadium Authority indicated the analysis is complete and concluded the original Shamrock Farm proposal “was based on inadequate due diligence and engineering information about the site.”

Maryland’s investment in horse racing was amplified when Gov. Wes Moore announced – just before a deadline – the state would exercise its right of first refusal to match Churchill Downs Incorporated’s $85 million bid for the intellectual property rights to the Preakness Stakes, ensuring the iconic Triple Crown race remains under Maryland’s control.

“This decision secures a vital asset for our state, allows Maryland to shape its horseracing destiny, and by leveraging the Preakness’s iconic status and partnering with industry experts to enhance the fan experience, preserve Maryland’s position as a key power player in the Triple Crown for generations to come,” Gov. Moore said in a statement.

The Preakness Stakes is more than just a race; it is a cornerstone of Maryland’s history, culture, and economy, Gov. Moore said.

Horse racing has long been a cornerstone of Maryland’s agricultural economy and sporting identity.

“Maryland is one of the top 10 breeding states in the country for thoroughbreds,” said Frank Vespe, of TheRacingBiz.com “The Preakness is one of America’s great races.”

Despite concerns over the cost, supporters argue Laurel Park offers advantages that Shamrock Farm never could.

“This place makes a lot of sense because you’ve got this nice wide dirt track. You’ve got a beautiful turf course,” Vespe said. “It gives you options that Shamrock was never going to give you.”

Meanwhile, the state is continuing to explore options for selling the now-unused Shamrock Farm property.

Del. Buckel pointed to the hundreds of millions of dollars the state is investing in the Pimlico redevelopment, the Preakness IP rights, and additional investments planned at Laurel Park and said Marylanders’ patience on the rate of return may be running out.

“If it doesn’t work, all of it is going to go down the toilet because there’s not going to be an appetite for more state money and more subsidization,” Buckel said.

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