Horse racing - Pimlico racetrack should be demolished and rebuilt, study says

(Reuters) - A new study suggests a $424-million demolition and rebuilding of the deteriorating Pimlico Race Course in Baltimore which annually hosts the Preakness Stakes, the second leg of thoroughbred horse racing's Triple Crown.

The course, which opened in 1870 and is the second-oldest race track in the United States, was in major need of repair and upgrading, the study by the Maryland Stadium Authority said.