Money Talks: Maryland Jockey Club To Increase Spring Purse
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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).
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