Maryland Jockey Club

What Maryland Jockey Club does

The Maryland Jockey Club is a Maryland-incorporated nonprofit organization founded in 1743, making it one of the oldest horse racing entities in the United States. It operates two anchor assets: the 229-acre Laurel Park in Laurel, MD (headquarters and racing/training facility) and the historic Pimlico Race Course in Baltimore (home of the Preakness Stakes, currently undergoing a $400+ million reconstruction expected to return to full operations by May 2028). The organization runs a live Thoroughbred racing meet, full-card simulcast wagering through its ARC (Amateur Racing Channel) distribution, and a portfolio of stakes events anchored by the Preakness Stakes (second leg of the U.S. Triple Crown), the Black-Eyed Susan Stakes, and the De Francis Dash. Underlying technology consists of a pari-mutuel wagering system with simulcast capabilities, Equibase integration for official race programs and past-performance data, and Daily Racing Form (DRF) program distribution for handicapping.

The club makes money through five primary streams: pari-mutuel wagering takeout (a 2% handle-based fee yielded roughly $6 million from the 2025 Preakness alone on $140 million in handle), ticketing and admissions, sponsorships (now developed exclusively by Oak View Group at Pimlico), food and beverage/hospitality ($95 dining boxes, $150 VIP packages with open bar), and state revenue sharing tied to wagering and admissions receipts. It serves three customer segments: horse racing enthusiasts and pari-mutuel bettors (primary, consumer), horse owners/trainers using Laurel's training facilities and stakes nominations (primary, B2B), and corporate/private event bookers (secondary). The Preakness Stakes is by far the largest single revenue and visibility event, with broadcast distribution via NBC Sports (since 2001) and active media-rights interest from Fox, Amazon, and Netflix.

The organization is currently mid-transition: in 2026, the State of Maryland exercised its right of first refusal to match Churchill Downs Incorporated's $85 million offer for the Preakness and Black-Eyed Susan intellectual property, the Maryland Stadium Authority approved a $48.5 million purchase of Laurel Park from 1/ST Holdings, and the Maryland Jockey Club is taking over operational control from 1/ST Racing with full operations targeted for 2027. The Maryland thoroughbred industry supports 28,000+ jobs and $3 billion in annual economic activity. The company has no outside equity investors, no parent company, no subsidiaries, and operates as a mission-driven nonprofit with a small core staff of 11–50 employees.

Name

Maryland Jockey Club

Legal name

The Maryland Jockey Club, Inc.

Website

https://laurelpark.com

Company type

Private

Founded year

1743

Operating status

Operating

Headcount range

11–50 employees

Short description

The Maryland Jockey Club is a nonprofit organization operating Laurel Park and Pimlico Race Course, delivering Thoroughbred horse racing, pari-mutuel wagering, and hospitality since 1743. It hosts the Preakness Stakes, the second leg of the U.S. Triple Crown, serving racing fans, bettors, and horse owners/trainers in the Mid-Atlantic region.

Ownership category

akta.pro rank

Product category

Horse Racing Entertainment

NAICS

Racetracks (711212), Horses and Other Equine Production (11292), Horses and Other Equine Production (112920)

SIC

Services-Racing, Including Track Operation (7948)

akta.pro primary industry

Racecourse Hospitality, Sponsorship & On-Track Experiences (MPAEADAM)

akta.pro secondary industries

Training, Stables & Equine Services (MPAEADAI), Racehorse Training & Conditioning Operations (AFAEAGAE)

Keywords

• Thoroughbred horse racing
• Pari-mutuel wagering
• Simulcast race betting
• Horse racing venue
• Preakness stakes event

Headquarters

HQ city

Laurel

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Pari-Mutuel Wagering: Core revenue stream from pari-mutuel betting on live horse races. Handle from wagering generates revenue through takeout percentages, with the $85 million Preakness deal indicating significant handle values ($140 million in 2025 for Preakness alone).
2. Ticketing and Admissions: Revenue from ticket sales for live racing events, including general admission, box seats, and hospitality packages.
3. Sponsorships and Partnerships: Revenue from corporate sponsorships for race events, venue naming rights, and brand partnerships. Oak View Group partnership for Pimlico sponsorship development.
4. Food and Beverage: Concessions, dining packages, and hospitality services at race events including Sunday Brunch and dining boxes.
5. State Revenue Sharing: Revenue bonds repaid by race-generated revenue from ticketing, wagering, and sponsorships, with no general fund tax dollars used.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

The Maryland Jockey Club operates live Thoroughbred horse racing at Laurel Park and Pimlico Race Course, offering pari-mutuel and simulcast wagering, on-site hospitality and dining, and the annual Preakness Stakes — the second leg of the U.S. Triple Crown. Founded in 1743, the organization functions as a nonprofit horse racing operator in the Mid-Atlantic region, with associated services including corporate/private events, training facilities, and handicapping resources.

Product overview

The Maryland Jockey Club, established in 1743, operates as a nonprofit organization providing world-class Thoroughbred horse racing entertainment. The organization manages Laurel Park (a 229-acre racing and training facility) and Pimlico Race Course (home of the Preakness Stakes, undergoing reconstruction). Core offerings include live horse racing at Laurel Park, simulcast wagering, and the flagship Preakness Stakes event. The product portfolio encompasses racing operations (Preakness Stakes, De Francis Dash, National Thoroughbred League), wagering services (Daily Picks, simulcasting), and hospitality offerings (Dining Box, VIP packages). The Maryland Jockey Club transitioned operations from 1/ST Racing in 2026 and partnered with Oak View Group for sponsorship development at Pimlico.

Differentiator

Problem solved

Functional benefit

Brands

• Preakness Stakes: The second leg of horse racing's Triple Crown, held annually at Pimlico Race Course.
• Black-Eyed Susan Stakes
• De Francis Dash

Products and services

• Live Horse Racing at Laurel Park World-class Thoroughbred horse racing held at Laurel Park with live racing on Fridays, Saturdays, and Sundays, featuring simulcasting for off-track wagering. Targeted at racing enthusiasts and bettors in the Mid-Atlantic region.
• Preakness Stakes The second leg of horse racing's Triple Crown, operated by Maryland Jockey Club at Pimlico Race Course (temporarily at Laurel Park during reconstruction). Targeted at national horse racing audience, media partners, and on-site attendees.
• Simulcast Wagering Full-card simulcasting services at Laurel Park enabling wagering on races from other tracks nationwide, with ARC (Amateur Racing Channel) simulcast distribution and inter-track wagering. Available to consumers at the track and through ADW partners.
• De Francis Dash Annual feature sprint stakes race at Laurel Park with a dedicated race day including handicapping and wager contests such as the Value Pick 5 with reduced takeout. Targeted at racing fans and handicappers.
• Dining Box Hospitality Package Reserved seating at Dining Box tables with panoramic track view, race-day menu (starters, salads, entrees, sides, desserts), non-alcoholic beverages, and race programs. Priced at $95 plus taxes and fees.
• VIP Hospitality Package Premium trackside VIP box seating with panoramic view, elevated race-day menu, full open bar with house-select brands, and one bottle of Veuve Clicquot per four guests. Priced at $150 plus taxes and fees.
• MJC Rewards Loyalty membership program offering rewards, promotions, and special offers to registered members of Maryland Jockey Club.
• National Thoroughbred League Team-based national racing league with six events held at Laurel Park in its inaugural 2026 season, featuring franchise ownership (e.g., Maryland Colts, Miami Thunderbolts, New York Knights). Targeted at sports entertainment fans and franchise audiences.
• Corporate and Private Event Bookings Venue rental and hospitality services at Laurel Park for corporate events, weddings, private parties, and group outings, with catering and audiovisual capabilities.
• Laurel Park Training Facility 229-acre thoroughbred training and racing facility at Laurel Park, providing training infrastructure and racing surfaces for horse owners and trainers. Acquired by the State of Maryland in 2026 with Maryland Jockey Club operations.

Quantifiable outcome

• $3 billion in annual economic activity generated by Maryland's thoroughbred industry
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Maryland Stadium AuthoritycoreStrategic or Co-development Partner · 6 May 2026Maryland Stadium Authority Board approved a $48.5 million agreement to purchase Laurel Park from 1/ST Holdings. The state is investing approximately $525 million to rebuild Pimlico Race Course and acquire Laurel Park, consolidating thoroughbred training operations at the 229-acre Laurel Park facility.
• Churchill Downs Incorporated (CDI)coreOEM/ Whitelabel/ Licensing Partner · 23 April 2026CDI acquired the intellectual property rights to the Preakness Stakes and Black-Eyed Susan Stakes for $85 million. The deal includes a $3 million base annual licensing fee growing at 2.5% starting in 2028, plus 2% of handle. CDI plans to lease IP rights back to Maryland Jockey Club, which retains full operational control of the races. This consolidates the first two legs of horse racing's Triple Crown under one entity.
• Oak View Group (OVG)coreGTM or Marketing Partner · 7 April 2026Multi-year partnership making OVG Global Partnerships the exclusive developer and seller of brand partnerships for Pimlico Race Course, home of the Preakness Stakes. This marks OVG's first entry into U.S. horse racing properties, expanding their portfolio beyond arena and live entertainment venues. The partnership builds on OVG's prior $250 million investment in Baltimore through the CFG Bank Arena redevelopment and aims to create new sponsorship, hospitality, and year-round programming opportunities.
• 1/ST Racing (The Stronach Group)minorOthersFormer operator of Maryland thoroughbred racing operations. 1/ST Racing is transitioning operations to the Maryland Jockey Club. Churchill Downs has acquired Preakness IP rights from 1/ST Racing. The transaction marks the end of 1/ST Racing's thoroughbred racing involvement in Maryland.
• EquibasecoreTechnology or IntegrationEquibase provides official racing data including race programs, past performances, speed and pace figures, entries, workouts, charts, and results. Integration enables comprehensive handicapping resources for customers.
• Daily Racing Form (DRF)coreTechnology or IntegrationDRF provides free daily racing form programs for Laurel Park featuring past performances with up to 10 running lines, Equibase Speed & Pace Figures, and Class & Power Rankings.
• MedStar HealthminorOthersHealthcare sponsor partner listed among Maryland Jockey Club partners.
• PepsiminorOthersBeverage sponsor partner listed among Maryland Jockey Club partners.
• Maryland Thoroughbred Horsemen's Association (MTHA)coreStrategic or Co-development PartnerIndustry organization representing thoroughbred horsemen, listed as a partner with the Maryland Jockey Club.
• Maryland Horse Breeders Association (MHBA)coreStrategic or Co-development PartnerIndustry organization representing Maryland horse breeders, listed as a partner.
• Beyond The WireminorStrategic or Co-development PartnerThoroughbred aftercare organization partner helping with retraining and placement of retired racehorses.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Del Mar Thoroughbred Club: Operates the Del Mar racetrack in California hosting the Breeders' Cup and seasonal summer meet. Comparable as a branded, hospitality-driven racing venue with strong ticket and sponsorship economics.
• Churchill Downs Incorporated: Operates Churchill Downs (Kentucky Derby), and in 2026 acquired Preakness IP for $85M while leasing operations back to MJC. Directly comparable as a horse racing venue and pari-mutuel operator managing Triple Crown events.
• Keeneland Association: Iconic Kentucky thoroughbred racecourse and sales company operating seasonal meets and high-quality simulcast content. Comparable as a heritage racing venue with strong brand and pari-mutuel wagering operations.
• New York Racing Association: Operates Belmont Park, Saratoga, and Aqueduct racetracks, including the third leg of the Triple Crown (Belmont Stakes). Closest peer to MJC as a nonprofit racing operator running a Triple Crown venue.

Others

• Oak View Group: Multi-year partnership partner for Pimlico sponsorship development and creator of CFG Bank Arena in Baltimore. Adjacent as an arena/live entertainment venue operator that MJC is partnering with to professionalize sponsorship sales.
• Equibase: Joint venture of the Jockey Club and Thoroughbred Racing Associations providing racing data and handicapping products. Comparable as a data and technology integration partner for MJC's pari-mutuel and handicapping operations.
• Maryland Stadium Authority: State entity that purchased Laurel Park for $48.5M and is financing the $525M Pimlico rebuild. Relevant as a strategic infrastructure investor counterparty whose actions directly shape MJC's capital and operating footprint.

Broad incumbents

• The Stronach Group / 1/ST Racing: Former operator of MJC's racing and current operator of Santa Anita, Gulfstream Park, and Pimlico (pre-transition). Direct incumbent peer in U.S. thoroughbred track operation and a key counterparty in MJC's 2026 transition.

Emerging players

• National Thoroughbred League: Team-based thoroughbred racing league launching 2026 with races at Laurel Park. Adjacent emerging player that MJC is partnering with to broaden the sport's audience and ticket base.
• Breeders' Cup Limited: Operator of the Breeders' Cup World Championships, hosted at rotating U.S. tracks including prospective Pimlico venues. Comparable as a championship racing content owner that competes for the same sponsorship and broadcast dollars.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/laurelpark
• YouTubeyoutube.com/@MarylandRacing
• Facebookfacebook.com/MarylandJockeyClub
• Instagraminstagram.com/marylandjockeyclub

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Maryland Jockey Club