GGB is committed to providing updated news and analysis on our weekly news site,

Maryland Racetracks Able To Be Seized

The Maryland Senate passed a bill that would allow the state to seize the Maryland racetracks owned by Magna Entertainment, the bankrupt operator that is currently trying to sell assets as part of its reorganization plan. The bill is clearly aimed at Pimlico Race Course in Baltimore, with the purpose of keeping the Preakness Stakes held there in the state should Magna be unable to sell the track with a guarantee that the new owner would keep the prestigious Triple Crown race in Maryland. The bill’s fate in the state House was less certain.