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 BALTIMORE (AP) - For one day a year, all is right with the Maryland racing industry. More than 100,000 people will gather at Pimlico Race Course this Saturday to watch the Preakness Stakes. They will bet millions of dollars and spend enough money on food and souvenirs to enable the venerable track to survive another year.
"Literally, it's the one day of the year that we make money," said Jim Gagliano, executive vice president of Maryland operations for Pimlico's owner, Magna Entertainment Corp. "The tickets sales, concessions and percentage that we get on wagering makes up for the other 364 days of the year in which we do not show a profit."
But the Preakness no longer can be counted upon to support Maryland racing by itself. Magna, which also owns and operates nearby Laurel Park, believes both tracks need slots to survive. Without them, customers, trainers and quality horses will continue their exodus to surrounding states.
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