BBJ: Baltimore officials 'cautiously optimistic' Preakness will remain at Pimlico
https://www.bizjourn...optimistic.html

Had a meeting at Laurel Park today.

Was impressed with the space.... they've poured a lot of money into existing, and coming upgrades.

Looks like a decent way to spend a day...  (bars, restaurants, gambling obviously.... eventually a large sports book).

Also a good spot for events if you need a venue.

Pretty good bet imo that the Preakness moves there soon.

Had a meeting at Laurel Park today.

Was impressed with the space.... they've poured a lot of money into existing, and coming upgrades.

 

Looks like a decent way to spend a day...  (bars, restaurants, gambling obviously.... eventually a large sports book).

Also a good spot for events if you need a venue.

Pretty good bet imo that the Preakness moves there soon.

Its really cool there. I've been to a couple events there, when it's been barely hanging on by a thread and walking around, the size, the potential is just dumbfounding. I can't believe they missed out on slots, but getting a sports book there will be AMAZING.

Balt Sun: Baltimore mayor blasts Pimlico owners, who say they want to move Preakness to Laurel

https://www.baltimor...0219-story.html

Sun:  Pimlico owners spent almost 90 percent of Maryland renovation funds at Laurel

Over the past five years, the company that owns Maryland’s two largest horse racing tracks has spent almost 90 percent of its state renovation subsidies to pay for improvements at Laurel Park rather than at Baltimore’s rundown Pimlico Race Course, state records show.

 

Since 2013, The Stronach Group has received $22.5 million from Maryland’s Racetrack Facilities Renewal program. The company matched the subsidy, as required by law, using the program to pay for a total of $45 million in renovations.

 

Of that, $39 million went to clubhouse upgrades and stable repairs at Laurel Park, a Baltimore Sun review of state records found. Just $6 million was spent at Pimlico, where it paid for Wi-Fi, air-conditioning and electrical improvements.

https://www.baltimor...0220-story.html

Sun:  Pimlico owners spent almost 90 percent of Maryland renovation funds at Laurel

 

 

https://www.baltimor...0220-story.html

Laurel has more races than Pimlico so its not shocking they did this.

Preakness' days at Pimlico are numbered. I am glad I am finally going before it's moved elsewhere.

What is the holdup behind moving it? Contracted through a certain year? Can’t think the people in the business like coming to pimlico when Laurel is an option. And the city has to know the incoming revenue is spent in the county. No one coming here is staying downtown. They stay in Hunt Valley

Laurel will need to fill that pond in the infield.

Where would people stay when they come to Laurel? It's not like there's a ton of hotels or entertainment nearby there. I'd imagine they'd prefer Baltimore to Laurel when it comes to location.

But the facility at Laurel seems to be much better and up to date. It's only a matter of time before it's moved.

I used to be torn on this one as I'm big fan of tradition and history, but if the Preakness moves to Laurel so be it.  Baltimore has too many problems to worry about that are more important than the location of a horse race.

I used to be torn on this one as I'm big fan of tradition and history, but if the Preakness moves to Laurel so be it.  Baltimore has too many problems to worry about that are more important than the location of a horse race.

But it's a revenue generator (and could be a larger revenue generator) to help combat those problems.  That said, I'm not sold on the investment it would take get Pimilco up to speed.   Definitely becomes a Washington event if they move to Laurel though. 

I used to be torn on this one as I'm big fan of tradition and history, but if the Preakness moves to Laurel so be it. Baltimore has too many problems to worry about that are more important than the location of a horse race.

But it's a revenue generator (and could be a larger revenue generator) to help combat those problems.  That said, I'm not sold on the investment it would take get Pimilco up to speed.   Definitely becomes a Washington event if they move to Laurel though. 

Where it is in Laurel is probably closer to Baltimore than DC. There's the clear DC Suburbs around here, then there's a grey area band that's like is it DC, is it bmore? (Runs through Laurel and Annapolis) then there's the clear Bmore suburbs.

Unless some private investor comes along and wants to tear the whole place down and rebuild it state of the art, and then they'd own the facility and would pay rent or whatever to Bmore, that's the only way you fix Pimlico, and that site could probably be used for other things better for Bmore than horse racing and gambling.

Where it is in Laurel is probably closer to Baltimore than DC. There's the clear DC Suburbs around here, then there's a grey area band that's like is it DC, is it bmore? (Runs through Laurel and Annapolis) then there's the clear Bmore suburbs.

 

Unless some private investor comes along and wants to tear the whole place down and rebuild it state of the art, and then they'd own the facility and would pay rent or whatever to Bmore, that's the only way you fix Pimlico, and that site could probably be used for other things better for Bmore than horse racing and gambling.

Laurel itself is split imo... but the corporate community of Baltimore believes the event becomes a DC event if it moves to Laurel.

Lot of this stuff is chicken and egg.  You can spend $ elsewhere (direct issues), and maybe that is the better bet.   Or you could invest in something which can generate further revenue, that you can utilize to address issues. 

The Preakness is a revenue generator, and it props up the larger regional horse industry.... that's jobs, etc. 


All of that said... everything I know / think tells me it should be a lower priority on the hierarchy list than a new Arena, and additional convention space...   and even as much of a priority as I believe those items should be, I recognize the opposing argument that $ should be utilized elsewhere. 


So yeah... I think Laurel will be the new home, and there are worse things than that.    As I said above, Laurel Park definitely is a high quality space at this point. 


 

Laurel itself is split imo... but the corporate community of Baltimore believes the event becomes a DC event if it moves to Laurel.

Lot of this stuff is chicken and egg.  You can spend $ elsewhere (direct issues), and maybe that is the better bet.   Or you could invest in something which can generate further revenue, that you can utilize to address issues. 

The Preakness is a revenue generator, and it props up the larger regional horse industry.... that's jobs, etc. 


All of that said... everything I know / think tells me it should be a lower priority on the hierarchy list than a new Arena, and additional convention space...   and even as much of a priority as I believe those items should be, I recognize the opposing argument that $ should be utilized elsewhere. 


So yeah... I think Laurel will be the new home, and there are worse things than that.    As I said above, Laurel Park definitely is a high quality space at this point. 


 

I think I'm just biased on the topic, I know I talked about it a while ago, but when I walked through that place and saw all the unused potential in Laurel, I couldn't believe it. It's just begging for something more grand. They really missed the boat by not putting slots in there back in the day, but even without, what they've got cooking right now is something. If they can get sports betting in there too, it's going to become a whole thing.

Logistically, Laurel makes more sense from a transportation standpoint -- there's a MARC station right there, it's close to the highways and is easily reachable from Baltimore and DC. Plus BWI is close by. And the proximity to DC is a positive, IMO. That's more money flowing into MD.

If the city and state can come up with a plan includes improving the immediate surrounding area, I'd be all for Preakness staying in Baltimore.

And sometimes, tradition is worth the expense. This is the only nationwide sporting event Baltimore has, and likely ever will have. We shouldn't just be shrugging our shoulders over the likelihood that it leaves.

Would have to think if/when the Preakness leaves Pimlico then the facility is just going to sit empty and rot...without the revenues from that one event the owners can't possibly support what few racing days they still have at Pimlico. There's already enough land and structures in the city that have met that fate. If the Preakness is what's needed just to keep that property somewhat maintained, the city ought to do what it can to keep it there.

Sun:  Pimlico owners spent almost 90 percent of Maryland renovation funds at Laurel

 

 

https://www.baltimor...0220-story.html

Where does that $22.5M come from? Taxpayers? My quick google search wasn't clear, but it appears as if that's the case. That is exactly $22.5M too much. Insanity.

Where does that $22.5M come from? Taxpayers? My quick google search wasn't clear, but it appears as if that's the case. That is exactly $22.5M too much. Insanity.

My understanding is it comes from the slots. You can make the case that money would go elsewhere without giving it to racing, but I was still living there when slots/racing were the hot-button issue, and slots were sold as the only way MD could save the horse racing industry when we voted on them.

LinkedIn post I saw... 

https://www.linkedin...-colin-tarbert/