Tag: Steve Hershey
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How a $375 Million Plan Became a $715 Million Problem
Maryland’s horse racing redevelopment plan escalated from $375 million to over $715 million through five decisions made without public cost-benefit analyses. Key decisions included concentrating racing at a rebuilt Pimlico, abandoning Shamrock Farm, purchasing Laurel Park, and acquiring the Preakness IP, all while lacking transparency and accountability.
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What Maryland Didn’t Consider
The Preakness announcement led to a new broadcast deal and date but did not resolve sixteen existing issues—eight created by Maryland and eight inherited from the industry. Key problems include reduced betting handle on Sundays and competition with major events like the PGA Championship, requiring Maryland to address structural shortcomings for racing’s future.
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Pimlico Has No Plan for the Other 364 Days
The new Pimlico Race Course, meant to be a year-round economic hub, currently supports only the Preakness Stakes, raising concerns about its long-term viability. Despite significant investments, no substantial programming or events are announced for the remaining 364 days, provoking skepticism among local residents and officials regarding its projected economic impact.
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What Moore Announced — And What Comes Next
Governor Wes Moore’s press conference outlined major updates for the Preakness Stakes, including a historic Sunday date and a broadcasting deal with NBC through 2032. While the announcements were substantial, concerns about governance, competition with new racing series, and the economic implications for Maryland’s $633 million investment remain unaddressed.
Sports & Whatever 