Baltimore's Pimlico Race Course will take center stage in the horse racing world on Saturday for the 140th running of the Preakness Stakes. But a cloud of uncertainty lies above the track located in the northwest side of the city, as the The Stronach Group, which owns Pimlico and the Preakness Stakes, told USA Today recently that is it ready to make a significant financial investment in the Maryland horse racing industry.
2015 Preakness Stakes: Pimlico facing uncertain future
The racetrack in northwest Baltimore has been home to the Preakness Stakes since the first edition in 1873.
Geoff Burke-USA TODAY Sports
However that doesn't necessarily foreshadow an end to Pimlico, and it does not look like the Preakness will be leaving Baltimore anytime soon. The economic fallout of losing the lucrative race would be too much to bear for the city, which appears likely to open its coffers in order to keep the race. Furthermore, the backlash from horse racing's traditionalists if the Preakness was run anywhere but Pimlico, would probably be significant enough to make the move to a different track a very difficult process.
“With the the increased competition for gaming dollars, Maryland (racing) has been suffering it’s been a drain on the Stronach Group,” said chief operating officer Tim Ritvo. “We’re very successful in Florida and California, and Mr. (Frank) Stronach wants Maryland to be a viable entity.”
The group seems intent on creating a large entertainment complex with restaurants, bars and shopping, similar to the way that the group transformed Florida’s Gulfstream Park. The Stronach Group also owns Laurel Park, where it already runs the majority of the state’s races, and there is speculation that the group’s leaders would prefer to focus its money and rebuilding efforts at that racetrack located between Washington D.C. and Baltimore.
Logic would then dictate that the group would want to eventually consolidate its racing efforts into one place and run the Preakness there at a newly refurbished Laurel Park. Pimlico is an outdated facility and it would be hard to renovate because of structural issues, according to Ritvo.
Although Pimlico is probably not the ideal location to maximize profits for an event of this magnitude, the pride of Baltimore and its historic link to the Preakness Stakes is hard to ignore. The city appears ready to fight any proposal to move the race and keep the tradition of horse racing alive in Baltimore.
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