Legislation to restructure Maryland racing introduced to general assembly

Legislation that would pave the way for the reconstruction of Pimlico Race Course in Baltimore and for other recommendations from a state task force was introduced on Thursday to the Maryland General Assembly.

The bill, which was introduced with a little more than two weeks left in this year’s legislative session, would authorize the state to issue $400 million in bonds for a total rebuild of Pimlico and the purchase and construction of a training center. The major elements of the legislation are nearly identical to recommendations released early this year by the Maryland Thoroughbred Racetrack Operating Authority, which was convened by the state in 2023.

Under the plan, the current owner of Pimlico, 1/ST Racing, would deed the track to the state. During the reconstruction of Pimlico, racing would continue at Laurel Park, another Maryland track owned by 1/ST, but the management of the track would be controlled by a non-profit state entity.

Racing officials in the state have previously said that the task force’s recommendations would likely be supported by legislators. On the day the recommendations were released, Gov. Wes Moore simultaneously announced an “agreement in principle” with 1/ST to deed Pimlico to the state and proceed with the task force’s plan.

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In 2020, the legislature approved a bill that would have authorized $375 million toward a plan that would have renovated both tracks and allowed 1/ST to retain ownership. However, that plan was never pursued after the COVID pandemic disrupted business operations throughout the country and 1/ST officials began blanching at the tax implications of the deal.

Although Maryland racing officials did not immediately return phone calls on Thursday afternoon, the Baltimore Banner reported that the bill may get its first hearing in the House of Delegates Ways and Means Committee on Friday.

“Legislative leaders have signaled that this is an important issue that will not fall victim to procedural deadlines,” the Banner said.

Craig Fravel, the executive vice chairman of 1/ST Racing, said in a prepared statement that Maryland’s racing constituencies “have engaged in extensive negotiations directed at finalizing a comprehensive agreement” since the release of the task force’s recommendations.

“We look forward to the legislative consideration process and collaborating with the [Maryland Thoroughbred Racetrack Operating Authority] and Maryland stakeholders to usher in a new era for racing in the state,” the statement said.

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