Maryland exercises right to acquire Preakness Stakes intellectual property for $85m
Maryland elected to exercise its right to acquire intellectual property associated with the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST, reportedly, matching Churchill Downs’ agreed $85 million purchase price. Analysts also reported May New Jersey casino revenue of $265.6 million, sports betting revenue of $85 million and online casino revenue of $276 million.
Maryland’s decision sets the reported price for the race intellectual property, while the New Jersey figures inform market assessments.