Horse racing industry groups have reached an agreement with Laurel Park to keep racing at the track for another 10 years, Gov. Martin O'Malley announced Friday.
The deal—which also covers Pimlico Race Course in Baltimore—includes the Maryland Jockey Club, the Maryland Thoroughbred Horsemen’s Association, and the Maryland Horse Breeders Association. It follows a temporary agreement reached between the same parties in 2010.
“I applaud the incredible work of all the parties in reaching a deal that retains racing industry jobs and preserves the future of racing in Maryland for years to come," O'Malley said in a statement.
Under the terms of the agreement, the 2013 season will once again include 146 days of live racing. The MJC will also guarantee a minimum of 100 racing days a year for the remainder of the contract.
As before, both tracks are slated to remain open for year-round racing, training, and stabling.
“This shows our commitment to Maryland racing and the long-term future of the industry," said Frank Stronach, chairman of the Stronach Group, which owns both tracks. "It is our vision to encourage people to invest in Maryland racing."
The deal will come before the Maryland Racing Commission this Tuesday, Dec. 18 for final approval.