The Preakness Stakes will stay in Maryland, after the state's racing commission approved an agreement reached by horse racing representatives earlier Wednesday.
The agreement calls for a full calendar of 146 days of live racing at the state's horse racing tracks, and keeps the Preakness Statesk -- the second jewel in racing's Triple Crown -- in Maryland.
It comes a day after the racing commission rejected a proprosal from the owners of Pimlico and Laurel Race tracks. Gov. Martin O'Malley's administration helped broker the new deal.
To help defray operating costs, the state will redirect $3.5- to $4 million in slot machine revenue from capital improvements.
O'Malley says the deal helps protect thousands of jobs that depend on horse racing.