Maryland Secures Future of Thoroughbred Racing with Laurel Park Acquisition

The State of Maryland is set to acquire Laurel Park for $48.5 million, a move that officials state will preserve the future of the state’s thoroughbred racing industry and lead to significant cost savings. The Maryland Stadium Authority Board of Directors has approved an agreement with 1/ST Holdings for the purchase of the 229-acre property, with plans to redevelop it into a state-of-the-art horse training facility. This strategic acquisition is projected to save the state over $50 million and represents a pivotal shift in the state’s approach to thoroughbred racing.

The plan involves a consolidation of Maryland’s thoroughbred training operations at Laurel Park, while Pimlico Race Course will be transformed into a premier venue for racing. This realignment is anticipated to reduce construction costs by approximately $26.3 million by leveraging existing infrastructure for horse stalls, thereby avoiding the need to build new stables at Pimlico. An additional $22.5 million in savings is expected from pursuing market-driven development alternatives for the Pimlico site. Beyond these capital savings, the Maryland Jockey Club projects annual operating expenses to decrease by $2.5 million through the centralization of overnight racing staff at the new training center.

The 151st Preakness Stakes is scheduled to take place at Laurel Park on May 16, 2026. Following this event, the “Run for the Black-Eyed Susans” is slated to return to a modernized Pimlico Race Course in 2027. Once redevelopment is complete, Pimlico is intended to become the permanent home for Maryland horse racing, hosting around 120 racing days annually. Laurel Park will continue to function as a year-round hub for the industry, offering up to 1,200 renovated stalls and advanced dirt and turf surfaces designed to prepare future racing champions. Discussions are also underway between the Maryland Stadium Authority and Carroll County government regarding the future of Shamrock Farms, which had been previously considered as a potential training facility site.

Maryland’s equine industry plays a crucial role in the state’s economy, generating $3 billion in annual economic activity and providing employment for over 28,000 individuals. The state boasts a high concentration of horses, with more horses per square mile than any other state, and the industry accounts for a quarter of Maryland’s agricultural land. The acquisition of Laurel Park is intended to provide the long-term stability necessary for horsemen, breeders, and industry workers to continue their livelihoods within a sustainable and competitive racing environment.

Following this announcement, the property acquisition proposal will be presented to the Legislative Policy Committee for review. The Maryland Stadium Authority plans to submit the final transaction for approval at an upcoming Board of Public Works meeting.

Article by Mel Anara, based upon information from The Office of Governor Wes Moore

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