Horse racing partnerships

Horse racing partnerships biogoraphy

The deal follows years of uncertainty as Maryland's horse racing industry crept along on year-to-year deals negotiated at the last minute. The Jockey Club lost $5.3 million in 2011 and $20 million in 2010. Meanwhile, Annapolis lawmakers wrestled over how to structure legalized gambling in the state, even as nearby states such as Pennsylvania and West Virginia found ways to strengthen the industry.

Eventually, the General Assembly agreed to allocate 7 percent of slot machine revenue toward horse racing purses and a smaller slice for track improvements. Jockey Club President Tom Chuckas said the slots revenue boosts money for owners, trainers and jockeys, leading to better horses and racing, and more patrons.

Purse money is expected to increase when casinos open in Baltimore and in Prince George's County.

Tim Capps, a former Jockey Club executive and now director of the Equine Industry Program at the University of Louisville, said the new agreement is reason for guarded optimism. The industry's success in Maryland will depend on whether stakeholders can remain "friendly and harmonious" and live up to their promises, he said.

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships

Horse racing partnerships