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Maryland Jockey Club Lobbies For State Loan

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The Maryland Jockey Club in part owns the Pimlico racetrack, which is known for hosting the annual Preakness Stakes.
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The Maryland Jockey Club in part owns the Pimlico racetrack, which is known for hosting the annual Preakness Stakes.

The Jockey Club, which in part owns both the Pimlico and Laurel Park horse racing tracks, would receive a loan of around $3.6 million if a bill is OK'd by state legislators.

The club says it needs the money to balance its books because of legal costs regarding a lawsuit against a Baltimore-based developer that is building the state's largest slot machine casino in Anne Arundel County.

Cordish Companies was awarded the license to build the casino over a coalition that included the Jockey Club, which wanted to build the casino at Laurel Park. Voters in Anne Arundel county approved the Cordish plan via referendum last November.

Pimlico Race Course is home to the Preakness Stakes, the second race in horse racing's Triple Crown. But it is the Laurel Park track that is causing the Jockey Club its financial headaches, as it alone accounted for the nearly $7 million the club lost in the last eight months of 2010.

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