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Pimlico, Laurel Park Results Slump

MARYLAND – As reported by the Thoroughbred Times: "Profits at Pimlico Race Course declined by 58% in 2003 when compared with the previous year while losses at its sister track Laurel Park ballooned.

"A financial report filed with the Maryland Racing Commission this week shows that Pimlico recorded a profit of $671,000 on racing revenue of $27.6-million last year, compared with a profit of $1.6-million on revenue of $31.5-million in 2002.

"After conducting only 71 days of live racing last year compared with 110 in 2002, Pimlico's handle also declined, totaling $127.7-million in 2003, down 22.6% from $165-million.

"Laurel reported a loss of $4.5-million on revenue of $24.9-million in 2003, compared to a loss of $1.9-million on revenue of $22.6-million during the previous year. The track's handle was on the upswing, however, increasing 15.1% in 2003, to $176.5-million from $153.4-million in 2002…"

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