Money Talks: Maryland Jockey Club To Increase Spring Purse

Pimlico’s Spring Meet Opens Today With Increased Daily Purses

The Maryland Jockey Club has increased daily purse money for Pimlico Race Course’s 31-day spring meet that starts today, according to John Scheinman of the WASHINGTON POST. The highlight of the meet is the $1M Preakness Stakes on May 20. The average daily purse has risen from $173,000 last year to about $215,000, resulting from a “dramatic surge in wagering” on the simulcast signal at the Laurel Park winter meet, as well as “a reduction in total yearly racing dates from 220 to 180.” Maryland Jockey Club President Lou Raffetto said Magna Entertainment, which owns both Pimlico and Laurel Park, “invested millions of dollars in a new racecourse (at Laurel Park) that allowed us to have a state-of-the-art turf course that allowed us to reclaim our old fans. Our fields were larger than at most other major jurisdictions. We hope we can continue that trend into the Pimlico meet.” However, Raffetto “cautioned the well being could be temporary” because Pennsylvania racetracks are expected to install slot machines next year, “fueling purses that likely will double those offered in Maryland” (WASHINGTON POST, 4/20).