Churchill Downs Says Maryland Exercising Rights to Buy Preakness Stakes, Matching $85M Offer

Dow Jones

06/19

By Elias Schisgall

Churchill Downs said the State of Maryland is exercising its right to purchase the intellectual property rights associated with the thoroughbred races Preakness Stakes and Black-Eyed Susan Stakes, matching the horse-racing company's offer of $85 million.

The state is exercising its rights to buy the property under state law, Churchill Downs said. The company had agreed in April to buy the IP from a subsidiary of the Stronach Group as part of its push into live sporting events.

"We understand why the state of Maryland would decide to acquire the Preakness IP rights as a state-owned asset from 1/ST Maryland LLC," Chief Executive Officer Bill Carstanjen said. "We remain committed to working with the Governor and other elected leaders and horse racing constituents in Maryland to fully realize the potential of a redeveloped Pimlico and Preakness Stakes within the Triple Crown and the broader sports and entertainment landscape."

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

June 18, 2026 17:24 ET (21:24 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The company had agreed in April to buy the IP from a subsidiary of the Stronach Group as part of its push into live sporting events. \n</p>\n<p>\n  \"We understand why the state of Maryland would decide to acquire the Preakness IP rights as a state-owned asset from 1/ST Maryland LLC,\" Chief Executive Officer Bill Carstanjen said. \"We remain committed to working with the Governor and other elected leaders and horse racing constituents in Maryland to fully realize the potential of a redeveloped Pimlico and Preakness Stakes within the Triple Crown and the broader sports and entertainment landscape.\" \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Elias Schisgall at elias.schisgall@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 18, 2026 17:24 ET (21:24 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4150","symbol_name":"賭場與賭博","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2644703168","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2644703168","pubTimestamp":1781817840,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Churchill Downs said the State of Maryland is exercising its right to purchase the intellectual property rights associated with the thoroughbred races Preakness Stakes and Black-Eyed Susan Stakes, matching the horse-racing company's offer of $85 million.The state is exercising its rights to buy the property under state law, Churchill Downs said. The company had agreed in April to buy the IP from a subsidiary of the Stronach Group as part of its push into live sporting events.\"We understand why the state of Maryland would decide to acquire the Preakness IP rights as a state-owned asset from 1/ST Maryland LLC,\" Chief Executive Officer Bill Carstanjen said. \"We remain committed to working with the Governor and other elected leaders and horse racing constituents in Maryland to fully realize the potential of a redeveloped Pimlico and Preakness Stakes within the Triple Crown and the broader sports and entertainment landscape.\"","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4150":"赌场与赌博","CHDN":"Churchill Downs"},"translate_title":"Churchill Downs表示马里兰州将行使购买Preakness股份的权利，相当于8500万美元的报价","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CHDN":1.5},"content_text":"By Elias Schisgall \n\n\n \n\n\nChurchill Downs said the State of Maryland is exercising its right to purchase the intellectual property rights associated with the thoroughbred races Preakness Stakes and Black-Eyed Susan Stakes, matching the horse-racing company's offer of $85 million. \n\n\n  The state is exercising its rights to buy the property under state law, Churchill Downs said. The company had agreed in April to buy the IP from a subsidiary of the Stronach Group as part of its push into live sporting events. \n\n\n  \"We understand why the state of Maryland would decide to acquire the Preakness IP rights as a state-owned asset from 1/ST Maryland LLC,\" Chief Executive Officer Bill Carstanjen said. \"We remain committed to working with the Governor and other elected leaders and horse racing constituents in Maryland to fully realize the potential of a redeveloped Pimlico and Preakness Stakes within the Triple Crown and the broader sports and entertainment landscape.\" \n\n\n \n\n\n  Write to Elias Schisgall at elias.schisgall@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 18, 2026 17:24 ET (21:24 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}