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Preakness InfieldFEST To Feature Entertainment, Unlimited Beer Refills
Published March 15, 2011
THINGS ARE LOOKING DOWN: In Baltimore, Hanah Cho reports the MJC's recently submitted financial statements reveal that the organization "lost tens of millions of dollars in recent years, including at the once-profitable Pimlico." The Laurel Park and Pimlico tracks "lost more than $14 million" in '09 and nearly $12M in '08. The financial documents show the "first annual losses at Pimlico in the past decade despite the fact that it hosts the Preakness, the state's largest sporting event." Cho notes the revelations come as the Maryland General Assembly "considers a proposal that would divert slot-machine revenue earmarked for track improvements to help fund the day-to-day operations of the Jockey Club for several years." In exchange, Laurel and Pimlico "would not curtail live racing but at a minimum would maintain a schedule similar to this year's." A House committee is scheduled to hold a hearing on the proposal today (Baltimore SUN, 3/15).