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Article: With license approved, track owner says Preakness is key

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It will be interesting to see if the Stronach group can end the malaise of Maryland racing.

With license approved, track owner says Preakness is key

http://www.baltimoresun.com/business/bs-bz-stronach-racing-20110729,0,5543030.story

The latest owner of Laurel Park and Pimlico Race Course says the Preakness is the key to turning around the state’s horse racing industry.

Greg Avioli, who heads The Stronach Group’s racing business, told state regulators Friday that the second leg of the Triple Crown isn’t living up to its potential. The Preakness could make three times the $14 million in revenue it currently sees, he told members of the Maryland Racing Commission.

To make that happen, The Stronach Group wants to build a modernized facility — which could cost as much as $200 million. The company has identified some potential sites, including Pimlico and Laurel Park. Downtown Baltimore, which has been approved for a slots casino, is also a strong possibility, he said.

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