Churchill Downs announced the state’s move on Monday, noting that Maryland is utilizing specific state laws to bring the historic thoroughbred races under public ownership. The company had originally sought to acquire the rights in April as part of a broader strategy to expand its portfolio in live sporting events.

Despite the loss of the IP rights, Churchill Downs CEO Bill Carstanjen signaled an intent to remain involved in the regional racing ecosystem. He confirmed the company will continue collaborating with Governor Wes Moore and local racing stakeholders to oversee the planned redevelopment of Pimlico Race Course. The focus remains on maintaining the prestige of the Triple Crown while integrating the venue into the state’s long-term sports and entertainment strategy.