first published in the March 2022 Equiery

According to the Baltimore Business Journal, the long-awaited redevelopment of Pimlico Race Course will be delayed by at least two years. The original plan called for the renovations to Pimlico and Laurel Park to be completed by 2025 however, no bonds have been sold by the State and neither project has broken ground.

Gary McGuigan, Executive Vice President of the Maryland Stadium Authority (MSA) said at a State budget briefing on February 3, “I don’t have a detailed timeline. I will say the earliest that I see activity at either facility is most likely after the Preakness in 2023.”

The Maryland General Assembly passed a law in 2020 that ratified a landmark agreement to keep the Preakness at Pimlico with MSA required to issue up to $375 million in bonds to finance the project. Debt service will be paid off with lottery revenue and various state funds dedicated to horse racing will reimburse the lottery.

To read more on this subject, see below:

Baltimore Business Journal

The Paulick Report