State Restructures Oversight Of Maryland Racing

The Maryland Thoroughbred Racetrack Operating Authority (MTROA), established by the General Assembly in 2023, will be dissolved under the 2025 Maryland Budget Reconciliation and Financing Act. Effective July 1, 2025, The Maryland Jockey Club (TMJC) will operate under the Maryland Economic Development Corporation (MEDCO), a move widely supported by the racing industry.

The budget bill, passed by the General Assembly on April 7—the final day of the 2025 legislative session—transitions TMJC to MEDCO oversight. This change is designed to streamline racetrack operations and enhance flexibility at both Pimlico and Laurel Park.

TMJC assumed operational control of both racetracks from 1/ST Racing (The Stronach Group) on Jan. 1, 2025, under a 2024 agreement that transferred ownership of Pimlico to the state and allowed the not-for-profit TMJC to lease and manage Laurel Park. Despite published reports suggesting the General Assembly planned to eliminate TMJC, the legislative language clearly maintains its role within the new structure.

The MTROA was originally tasked with establishing a separate board of directors for TMJC, but that board had not yet been formed as of early April. Industry leaders have consistently advocated for its formation.

Legislators emphasized that the restructuring will not delay the redevelopment timeline for Pimlico. Site work is expected to begin shortly after the conclusion of the 2025 spring meet on Preakness Day, May 17. The Maryland Stadium Authority (MSA) will continue to oversee the Pimlico Plus Plan, with the goal of accelerating the redevelopment process.

A proposed one-time $20 million reduction in Pimlico redevelopment funding was successfully reduced to approximately $6 million following advocacy from the Maryland Thoroughbred Horsemen’s Association.

“The Pimlico Plus Plan remains fully on track under the auspices of the MSA,” said the MTHA in a statement on April 5, “and we look forward to working closely with MEDCO and continuing our partnership with TMJC as the industry transitions to a new, state-of-the-art Pimlico facility and a world-class training center at Shamrock Farm.”

MTHA President Katharine Voss expressed confidence in the direction of the new structure:

“This is a smart and positive step forward for Maryland racing,” she said. “With TMJC now under MEDCO, we expect to see greater momentum behind the projects that are vital to the future of our sport here in Maryland.”

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