Track owners shocked the horse racing community last year by attempting to slash the 2011 racing schedule to a meager 40 days, saying they couldn’t afford to do more. The result of the outcry was a three-year subsidy for track operations. The money is being taken from a slots revenue fund originally designated as a matching fund for racetrack renovations.
The bill, passed by legislators in the spring, designates up to $6 million in operating subsidies in 2012 and 2013 for the Maryland Jockey Club, which runs Laurel and Pimlico racetracks. It also frees up as much as $1.2 million for harness tracks Rosecroft Raceway and Ocean Downs.
The jockey club lost $6.8 million last year at Laurel and made $20,102 at Pimlico.
The current season went forward with 146 racing days after Maryland Gov. Martin O’Malley agreed to redirect $3.6 million from the same slots revenue fund to the jockey club’s operations. The Maryland Thoroughbred Horsemen’s Association kicked in $1.7 million.
However, there are strings attached. To be eligible for the subsidies next year, the jockey club is required to submit a business plan by the end of 2011. The track operator also would have to reach a broadcasting agreement with Rosecroft, a dispute that has been at a stalemate for two years. – Liz Farmer
