Md. Jockey Club needs state aid to break even
April 1, 2011ANNAPOLIS, Md. (AP) - The Maryland Jockey Club says it can break even this year, but only if a proposed state loan clears the General Assembly by April 11.
The owner of Laurel Park and Pimlico Race Course - home of the Preakness, the second leg of horse racing's Triple Crown - is banking on $1.7 million from the state horsemen's association and $3.6 million loan from the state to balance its books this year.
Jockey Club President Tom Chuckas said Friday that a handful of one-time expenses - including the cost of a lawsuit fought against Baltimore developer David Cordish over one of the state's five slots licenses - cut into the club's profits.
He also said the cost of the controversial ``Kegasus'' advertising campaign for Preakness is likely less than $400,000.