press release from the NJ Assembly

Trenton, NJ — The Assembly Regulatory Oversight and Gaming Committee unanimously approved a plan that would permit the Meadowlands Racetrack and Monmouth Park to run fewer races, which would increase the amount of purses and revive New Jersey’s horse racing industry. It is sponsored by Assemblywoman Caroline Casagrande and Assemblyman Ronald S. Dancer.

The legislation, A-2507, codifies an agreement between the racetracks and horsemen’s associations and is expected to allow Monmouth Park’s daily purses to grow from $330,000 in 2009 to more than $1 million this year.

“This was crafted from successful models created in Japan and Australia that have proven fewer races equal larger purses, which will benefit the entire industry including the tracks, the horsemen and farms throughout New Jersey,” Casagrande, R-Monmouth and Mercer, said. “This will be a key part in our effort to modernize horse racing so that it remains a vital component of our state’s culture and economy.”

The plan also has the backing of Bob Mulcahy, a member of Governor Christie’s commission that is working to fix New Jersey’s gaming, sports and entertainment industries.

“The challenges facing horse racing are real, but they are not insurmountable if we all work together and find creative ways to reshape the industry,” Dancer, R-Ocean, Burlington, Mercer and Monmouth, said. “Horse racing is too important to our state’s economy and heritage to simply let it go away. We can reconfigure the sport so that it remains competitive with other states and plays an important role in rebuilding New Jersey’s economy.”

The bipartisan legislation is also sponsored by Assemblyman John J. Burzichelli, D-Gloucester, chairman of the Assembly Regulatory Oversight and Gaming Committee. It now heads to the full Assembly for consideration.