Churchill Downs Incorporated Announces State of Maryland’s Decision to Acquire the Preakness IP Rights

Churchill Downs Incorporated announced that the State of Maryland has exercised its right to acquire the intellectual property rights of the Preakness Stakes and Black-Eyed Susan Stakes for $85 million, matching CDI's previously announced purchase agreement. CDI's CEO stated the company remains committed to working with Maryland leadership on redeveloping Pimlico and the Preakness Stakes.