MARYLAND — Maryland’s decision to spend more than half a billion dollars to bolster the state’s horse racing industry — including a Pimlico Race Course rebuild and the purchase of the Preakness Stakes rights — was a bet on the enduring economic power of one of the nation’s most recognizable sporting events.
But a new national racing series that excludes the Preakness could complicate that wager.
The Preakness and horse racing itself face an uncertain future as interest in thoroughbred racing wanes. Despite that, the state of Maryland spent almost $600 million in Maryland tax dollars to invest in Pimlico and Laurel Park, as well as the 151-year-old race.
Meanwhile, industry leaders, Churchill Downs Inc. and the New York Racing Association, announced the launch of a six-race Thoroughbred Championship Series, which excludes the Preakness — a series Maryland leaders didn’t know about until it was announced last Monday.
Read the full article on The Baltimore Sun’s website.
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