Oct 28, 2019
Officials of Baltimore City, the Stronach Group (owners of both Pimlico and Laurel Race Tracks in Maryland), and Anne Arundel and Baltimore counties recently announced a tentative 375 million dollar deal to re-develop Pimlico Race Course in Baltimore and renovate Laurel Race Course near Washington, D.C.
This deal would be very profitable for the Stronach Group. But who are they proposing will pay for this deal? Maryland’s taxpayers and school children.
Financing for the deal would require help from the state. The state would issue bonds. And the money to pay off the bonds would come in part by taking even more money from state gambling casino revenues—money that is supposed to be going to public schools.
What can we say about this? Here we go again?