Maryland eliminates authority overseeing ownership transition of Pimlico
Maryland has dissolved the Maryland Thoroughbred Racetrack Operating Authority (MTROA), a state panel established in 2023 to oversee the transition of the state's horse racing industry.
The decision now shifts the MTROA's responsibilities to the Maryland Stadium Authority and the Maryland Economic Development Corporation (MEDCO).
Pimlico Race Course redevelopment
The Stronach Group transferred ownership of Pimlico to Maryland in July 2024, enabling the state to begin renovations.
The $400 million state-funded plan includes a new clubhouse, stables for 700 horses, event spaces, a hotel, structured parking, and workforce housing in the Park Heights neighborhood.
A separate training facility will accommodate around 650 horses, consolidating operations currently split between Pimlico and Laurel Park.
The 150th Preakness running will take place at Pimlico in May 2025, before temporarily relocating to Laurel Park in 2026 while construction is underway.
Economic impact of the Pimlico redevelopment
The Pimlico redevelopment project is expected to support 488 statewide jobs with $33.4 million in labor income annually, according to the MTROA.
State leaders hope the project will stimulate economic activity in Baltimore, especially in the Park Heights community, with the renovated race course expected to see between 140 and 160 racing days each year.
Included in the plan, is between $10 and $20 million for affordable housing for track workers near the course.
