The owners of Pimlico Race Course in Baltimore are reconsidering their recently announced plans to permanently close the storied thoroughbred horse racetrack’s off-track betting (OTB) facility.
Pimlico, the annual host of the Preakness Stakes, the second leg of the Triple Crown, is owned by the Stronach Group. Operating as 1/ST in Maryland, the Ontario-based company acquired a controlling stake in Pimlico in 2002. The company additionally owns Laurel Park Race Course in Maryland.
Last week, 1/ST officials revealed the company’s plans to close Pimlico’s OTB by the end of the month. Stronach reps said the Pimlico OTB has struggled to generate the necessary betting action to warrant its ongoing operations.
The Pimlico OTB has trailed Laurel in terms of off-track wagering revenue every year since 2005. The Pimlico simulcasting facility took just $11.3 million in wagers last year. Laurel’s OTB generated handle totaled nearly $30 million despite being open 50 fewer days than Pimlico.
Pimlico, the annual host of the Preakness Stakes, the second leg of the Triple Crown, is owned by the Stronach Group. Operating as 1/ST in Maryland, the Ontario-based company acquired a controlling stake in Pimlico in 2002. The company additionally owns Laurel Park Race Course in Maryland.
Last week, 1/ST officials revealed the company’s plans to close Pimlico’s OTB by the end of the month. Stronach reps said the Pimlico OTB has struggled to generate the necessary betting action to warrant its ongoing operations.
The Pimlico OTB has trailed Laurel in terms of off-track wagering revenue every year since 2005. The Pimlico simulcasting facility took just $11.3 million in wagers last year. Laurel’s OTB generated handle totaled nearly $30 million despite being open 50 fewer days than Pimlico.