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By Chris Korman, The Baltimore Sun | June 12, 2013
The Breeders' Cup, created as a roving championship of thoroughbred racing, shunned Louisville's Churchill Downs this week and announced it would return to Santa Anita Park in 2014 for a third consecutive year. Santa Anita, of course, is owned by the Stronach Group, which also owns Pimlico and Laurel. The same company is investing more than $100 million into its Gulfstream Park facility in Florida to turn it back into a Breeders' Cup-worthy venue . With massive renovations being drawn up for Pimlico, I thought it might be a good time to ask Maryland Jockey Club president Tom Chuckas if he thought Old Hilltop could ever host the Breeders' Cup. He laughed and said, "In this world, anything is possible.
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BUSINESS
By Chris Korman, The Baltimore Sun | June 12, 2013
The Breeders' Cup, created as a roving championship of thoroughbred racing, shunned Louisville's Churchill Downs this week and announced it would return to Santa Anita Park in 2014 for a third consecutive year. Santa Anita, of course, is owned by the Stronach Group, which also owns Pimlico and Laurel. The same company is investing more than $100 million into its Gulfstream Park facility in Florida to turn it back into a Breeders' Cup-worthy venue . With massive renovations being drawn up for Pimlico, I thought it might be a good time to ask Maryland Jockey Club president Tom Chuckas if he thought Old Hilltop could ever host the Breeders' Cup. He laughed and said, "In this world, anything is possible.
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BUSINESS
By Andrea K. Walker, The Baltimore Sun | July 29, 2011
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.
SPORTS
By Chris Korman | May 9, 2013
Frank Stronach, owner of Pimlico, is in Washington, D.C., this week. He discussed his new book, "Magna Man: My Road to Economic Freedom," at a session today. Yesterday, he spent time on Capitol Hill, working to spread his theory that American corporations should have their tax rates cut by 10 percent on the provision that they return that savings entirely to workers. This, he says, is the best way to ensure employees are invested in the company's success. It is also the best way, he thinks, to jump-start and eventually stabilize the economy.
BUSINESS
By Hanah Cho, The Baltimore Sun | December 17, 2011
The owner of Maryland's two major thoroughbred tracks and the Maryland Thoroughbred Horsemen's Association reached a tentative agreement Saturday to maintain 146 days of live racing next year, avoiding another last-minute showdown that threatened the racing industry. "I am glad we got this resolved," Richard Hoffberger, president of the horsemen's association, said in a statement. "This means running the same amount of live days as this year which was important to the horsemen to maintain a year-round program.
BUSINESS
By Hanah Cho, The Baltimore Sun | December 1, 2011
The thoroughbred industry missed Thursday's deadline to submit a long-term business plan to sustain the sport to the Maryland General Assembly. A state law enacted earlier this year to provide slot subsidies to the state's struggling racetracks called for the sport's stakeholders — including track operators, horse owners and breeders — to craft a plan that would maintain year-round racing without slots at a racetrack. Joseph Bryce, Gov. Martin O'Malley's top legislative aide, who has been keeping track of the discussions, said a plan would be provided when talks on the industry's future and a deal for next year's racing dates are completed.
BUSINESS
By Hanah Cho, The Baltimore Sun | July 3, 2011
Greg Avioli is not new to thoroughbred racing. But the former chief executive of the Breeders' Cup race still faces a difficult task in running The Stronach Group's racing business, which took full control of the financially ailing Maryland Jockey Club last week. The Jockey Club, which owns and operates Laurel Park and Pimlico Race Course , has suffered through a succession of corporate owners in recent years. And in a sport that has seen attendance and wagering fall, it has struggled to make money even with the Preakness Stakes, the second jewel of the Triple Crown.
BUSINESS
By Hanah Cho, The Baltimore Sun | October 18, 2011
It's deja vu for Maryland's thoroughbred racing industry. Less than three months before the 2012 season, the Maryland Jockey Club and the horsemen are at odds again and have yet to agree on the number of live racing days for next year. "We're staring at the barrel of a shotgun again," Louis Ulman, chairman of the Maryland Racing Commission, said Tuesday. Ulman had asked the Jockey Club and horse owners and breeders to provide an update at Tuesday's meeting about next year's racing schedule at Laurel Park and Pimlico Race Course in Baltimore to avoid a similar situation to last year's, with the future of the sport and the storied Preakness Stakes in doubt.
SPORTS
By Chris Korman | May 9, 2013
Frank Stronach, owner of Pimlico, is in Washington, D.C., this week. He discussed his new book, "Magna Man: My Road to Economic Freedom," at a session today. Yesterday, he spent time on Capitol Hill, working to spread his theory that American corporations should have their tax rates cut by 10 percent on the provision that they return that savings entirely to workers. This, he says, is the best way to ensure employees are invested in the company's success. It is also the best way, he thinks, to jump-start and eventually stabilize the economy.
BUSINESS
By Chris Korman, The Baltimore Sun | February 5, 2013
Pimlico is home to some of the most exhilarating and important horse races in history. It annually hosts the Preakness, the second stop on the road to the Triple Crown and primary revenue-driver for its ownership group. As the Maryland Jockey Club charts its future, though, the immediate focus appears to be on its lesser-known track. In a preliminary capital improvement plan submitted to the state late last week and made public Tuesday, the Jockey Club outlined a plan to essentially rebuild Laurel Park as a mixed-use development featuring retail and a hotel surrounding the track.
NEWS
By Chris Korman, The Baltimore Sun | April 8, 2013
This spring's season at Pimlico includes attractions designed to renew long-fading interest in thoroughbred horse racing: live music, a wine festival, beer and bourbon tastings, tutorials on betting and special contests. Get them to come once, the thinking goes, and spectators will be hooked on the experience. For the first time since the mid-2000s, Pimlico Race Course is poised to become more than an off-track betting center maintained just enough to host one of the country's most important races - the Preakness Stakes.
BUSINESS
By Chris Korman, The Baltimore Sun | February 5, 2013
Pimlico is home to some of the most exhilarating and important horse races in history. It annually hosts the Preakness, the second stop on the road to the Triple Crown and primary revenue-driver for its ownership group. As the Maryland Jockey Club charts its future, though, the immediate focus appears to be on its lesser-known track. In a preliminary capital improvement plan submitted to the state late last week and made public Tuesday, the Jockey Club outlined a plan to essentially rebuild Laurel Park as a mixed-use development featuring retail and a hotel surrounding the track.
BUSINESS
By Hanah Cho, The Baltimore Sun | December 17, 2011
The owner of Maryland's two major thoroughbred tracks and the Maryland Thoroughbred Horsemen's Association reached a tentative agreement Saturday to maintain 146 days of live racing next year, avoiding another last-minute showdown that threatened the racing industry. "I am glad we got this resolved," Richard Hoffberger, president of the horsemen's association, said in a statement. "This means running the same amount of live days as this year which was important to the horsemen to maintain a year-round program.
BUSINESS
By Hanah Cho, The Baltimore Sun | December 1, 2011
The thoroughbred industry missed Thursday's deadline to submit a long-term business plan to sustain the sport to the Maryland General Assembly. A state law enacted earlier this year to provide slot subsidies to the state's struggling racetracks called for the sport's stakeholders — including track operators, horse owners and breeders — to craft a plan that would maintain year-round racing without slots at a racetrack. Joseph Bryce, Gov. Martin O'Malley's top legislative aide, who has been keeping track of the discussions, said a plan would be provided when talks on the industry's future and a deal for next year's racing dates are completed.
BUSINESS
By Hanah Cho, The Baltimore Sun | October 18, 2011
It's deja vu for Maryland's thoroughbred racing industry. Less than three months before the 2012 season, the Maryland Jockey Club and the horsemen are at odds again and have yet to agree on the number of live racing days for next year. "We're staring at the barrel of a shotgun again," Louis Ulman, chairman of the Maryland Racing Commission, said Tuesday. Ulman had asked the Jockey Club and horse owners and breeders to provide an update at Tuesday's meeting about next year's racing schedule at Laurel Park and Pimlico Race Course in Baltimore to avoid a similar situation to last year's, with the future of the sport and the storied Preakness Stakes in doubt.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | July 29, 2011
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.
NEWS
By Chris Korman, The Baltimore Sun | April 8, 2013
This spring's season at Pimlico includes attractions designed to renew long-fading interest in thoroughbred horse racing: live music, a wine festival, beer and bourbon tastings, tutorials on betting and special contests. Get them to come once, the thinking goes, and spectators will be hooked on the experience. For the first time since the mid-2000s, Pimlico Race Course is poised to become more than an off-track betting center maintained just enough to host one of the country's most important races - the Preakness Stakes.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,SUN REPORTER | April 1, 2008
Racing magnate Frank Stronach is proposing a complex restructuring that would separate his racetrack company from his real estate development company, leaving unanswered the question of where the money-losing racing operation would get its financing. Magna Entertainment Corp., which owns Laurel Park and Pimlico Race Course in Maryland, has been lent millions by parent MI Developments Inc. to keep its operations going. Stronach, Magna Entertainment's founder, is also MID's controlling shareholder.
BUSINESS
By Hanah Cho, The Baltimore Sun | July 3, 2011
Greg Avioli is not new to thoroughbred racing. But the former chief executive of the Breeders' Cup race still faces a difficult task in running The Stronach Group's racing business, which took full control of the financially ailing Maryland Jockey Club last week. The Jockey Club, which owns and operates Laurel Park and Pimlico Race Course , has suffered through a succession of corporate owners in recent years. And in a sport that has seen attendance and wagering fall, it has struggled to make money even with the Preakness Stakes, the second jewel of the Triple Crown.
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