Maryland governor signs bill to rebuild Pimlico, home of the Preakness Stakes

ANNAPOLIS, Md. (AP) — Maryland Gov. Wes Moore signed a measure on Thursday to rebuild Baltimore’s historic but antiquated Pimlico Race Course and transfer the track to state control.

Under the new law, Maryland can use $400 million in state bonds to rebuild the home of the second jewel of horse racing’s Triple Crown, the Preakness Stakes. The 149th running of the race is set for May 18.

“Because of this bill, we have a path forward to continue running the Preakness in Maryland and renovate the historic Pimlico Race Course,” Maryland House Speaker Adrienne Jones, a Democrat, said as Moore nodded in agreement at a ceremony. “This bill will create lasting economic benefits to the state and the Baltimore region.”

The plan also calls for transferring Pimlico from the Stronach Group, which is the current owner of Pimlico and nearby Laurel Park, to a newly formed nonprofit that would operate under the state.