Maryland to redevelop Laurel Park into thoroughbred horse racing center under $50 million plan
The Maryland Stadium Authority approved a nearly $50 million plan for the state to buy Laurel Park and redevelop it into a "best-in-class horse training facility," the governor's office announced on Monday.
Laurel Park was already set to host the Preakness Stakes on May 16, while Pimlico Race Course is under renovation.
Plan to buy Laurel Park
In all, the Maryland Stadium Authority expects to spend up to $120 million on the purchase and upgrades to the track. The plan includes installing state-of-the-art dirt and turf and renovating 1,200 stables.
"Today, we are taking a historic step to preserve a legacy that has defined our state for more than a century," Gov. Wes Moore said. "By acquiring Laurel Park and establishing it as our statewide training hub, we are delivering a smarter, more cost-effective path to a world-class racing future. This agreement is cost-effective, creates a sustainable home for our horsemen, and ensures that the Preakness Stakes and Maryland racing remain global icons of excellence for generations to come."
The purchase still needs to be approved at the Board of Public Works meeting later this year.
"Laurel Park has long been the heartbeat of Maryland's thoroughbred racing community, serving as the place where horsemen, fans, and industry professionals come together every day to sustain and grow this sport," said Kentucky Derby-winning trainer and Maryland Thoroughbred Horsemen's Association Board Member H. Graham Motion. "Ensuring its future through this transition is critically important—not just for today, but for the next generation of Maryland racing."
What's the future of horse racing in Maryland?
Frank Vespe, a racing expert and owner of The Racing Biz, applauds Maryland's plan to purchase Laurel Park Race Track. Officials said the horse racing industry brings roughly $3 billion and 28,000 jobs to Maryland each year.
"I think this is a good example of the state investing in something that will bring it benefits over the long term," Vespe said.
Vespe told CBS News Baltimore that the state's purchase of Laurel Park and the renovations at Pimlico Race Course give Maryland "a clear path to the future."
"You need to have some confidence that if I breed a horse today, it might be four to five years before they ever race. I need to have confidence that there's gonna be a place for them to race, and there's going to be a training center for them to train at," Vespe said. "And so these two developments, the rebuilding of Pimlico that has started, and now the acquisition of Laurel. I think are gonna help to give people some of that confidence that Maryland's here for the long run."
Renovation at Pimlico Race Course
In 2024, the State of Maryland acquired historic Pimlico Race Course in a transfer of ownership to renovate and turn the race course into the permanent home of Maryland's thoroughbred racing.
Under the agreement, Maryland can use $400 million in state bonds to rebuild the home of the second jewel of horse racing's Triple Crown.
The project includes renovating the track surface and grandstand, adding additional stalls and a new training track, as well as redeveloping the surrounding Park Heights neighborhood.
Construction started in July 2025.
State leaders said the renovated facility will host more than 100 racing days each year. Aside from making Pimlico a world-class race track, there will be a hotel, event space, and other amenities.
The Pimlico revitalization project should be finished in time for the 2027 Preakness Stakes.
"Through this multi-year transformational project, the Pimlico Race Course will become a year-round racing facility bringing in economic benefits to the surrounding communities and further elevating Maryland, home of the Preakness Stakes, as a premier sports tourism destination," Craig Thompson, the Chair of the Maryland Stadium Authority, said last year.
