Pimlico, Laurel renovations bill sent to governor

A bill that will allow Maryland to use casino subsidies flowing to racing in order to fund renovations at Laurel Park and Pimlico Race Course in Maryland has been sent to the state’s governor after it passed a final procedural hurdle in the state’s House of Representatives on Wednesday, according to racing officials.

The bill, which will require the tracks’ privately held owner, The Stronach Group, to deed the properties to the state or local agencies, was passed by veto-proof majorities in both the House and Senate. Gov. Larry Hogan has not indicated his position on the bill, but racing officials and government representatives who negotiated the plan believe that no obstacles stand in its way.

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Under the plan, the state will issue $375 million in bonds to fund the renovations. Over the next few years, both Pimlico and Laurel will be torn down. Large portions of the Pimlico property will be offered for redevelopment, though the Preakness Stakes, the second leg of the Triple Crown, will continue to be staged at the Baltimore track. Laurel Park, located halfway between Baltimore and Washington, D.C., will be renovated to enable the track to operate as a year-round training location.

The legislation was fast-tracked in the past week as lawmakers attempted to get major bills through the legislature prior to Wednesday. On Sunday, the legislature announced it would meet until Wednesday and then recess until May as a precaution to stem the outbreak of coronavirus.

“I would like to thank Maryland’s policy makers for the passage of the legislation that paves the way for an enhanced Preakness in Baltimore, the revitalization of year-round racing at Laurel Park, and reinvestment in the many communities of interest near and related to the racing industry,” said Belinda Stronach, the chairman of The Stronach Group, in a statement. “Their tireless efforts, particularly as they work to prioritize the health and well-being of Maryland’s citizens during these difficult times, is highly commendable.”

Officials of Baltimore embraced the proposal as a way to keep the Preakness in the city and attract development to Pimlico’s property, which is located in a heavily disadvantaged area. Most of the funding for the plan relies on subsidies the industry receives from casinos in the state.

The renovations are likely to take several years to complete, and officials have not yet worked out a timetable as to how the work will proceed.