Pimlico Racecourse in Baltimore is about to undergo a $400 million revitalization program aimed at turning the venerable home of horse racing’s Preakness Stakes into a year-round attraction.
Approved by the Maryland General Assembly on April 8, the bond-financed plan would follow recommendations issued in January by the Maryland Thoroughbred Racetrack Operating Authority (MTROA) after a yearlong study. Along with the state taking ownership of Pimlico from its current owners, the Stronach Group, the existing mile-long track would be turned around and rebuilt. A new state-of-the-art clubhouse, observation tower and stables for around 700 horses would also be built.
The plan also calls for a new event space, a hotel and a privately developed 2,000-car garage to complement the revamped Pimlico facilities.
The rebuilding plan is likely to take two years to complete, and will require the 2025 and 2026 runnings of the Preakness to take place at nearby Laurel Park, which Maryland will also own under the plan. Both facilities must be leased and operated by a professional non-profit organization.
Maryland Gov. Wes Moore (D) is expected to sign the measure.
Opened in 1870, Pimlico’s storied history has been beset in recent decades by aging facilities and a cramped location in Baltimore’s Park Heights neighborhood. The state and Pimlico’s owners had already been exploring renovation options when several thousand grandstand seats were closed in 2019 due to safety concerns. The pandemic has also dealt a blow to Pimlico’s fortunes, with attendance over two days of the 2023 Preakness weekend barely a third of the 180,000 grandstand and field visitors announced four years earlier.
The revitalization plan aims to bolster Maryland’s $2 billion horse industry by offering up to 160 days of racing events each year, supplemented by other events and activities at the facility. The MTROA report also recommends building veterinary facilities and developing a new training facility at a separate site.
