East Rutherford, NJ – The numbers are in. And they aren’t good.
The first quarter of 2026 was nothing short of disastrous from a fiscal point of view for The Meadowlands, as well its off-track wagering facility, Winners Bayonne, and the FanDuel Sportsbook.
The need for casino gaming at The Big M, the very thing that has extended the lifelines of so many tracks along the Eastern Seaboard and Pennsylvania, has never been more evident.
During January, February and March, the incredibly cold temperatures and many snowstorms forced the cancellation of six live racing programs, not to mention a complete facility closure on several occasions, which knocked out both simulcast and sports betting.
The numbers would make any track operator’s stress level rise.
Import revenues at the track were down by 13 percent from budget and down from prior year by 16 percent. Winners Bayonne import revenues were down from budget and prior year by 2 percent. Live revenue and export revenue decreased by 14 percent compared to last year. Account wagering is down from budget by 19 percent and down last year by 18 percent. Sports wagering retail revenues were down 28 percent from budget and down 41 percent from prior year.
The numbers motivated Meadowlands Chairman and Chief Executive Officer Jeff Gural to release the following statement:
“As you can see, our business has been terrible because of the weather and the continued slow decline as our customers age out or switch to sports betting. More importantly, my effort to try to get a referendum on the ballot that would allow for casino gambling at The Meadowlands is facing stiff opposition from Atlantic City interests, and while I was originally optimistic, that is no longer the case.
“I am working very hard to convince the N.J. State Legislature, as well as Gov. Mikie Sherrill, to put it on the ballot, but those in South Jersey are strongly opposed, and the legislative leaders have asked us to wait another two years. If we have to wait another two years, (Monmouth Park operator) Dennis (Drazin) and I would need a state subsidy of somewhere between $40 and $50 million annually in order to cover money for purses and operating losses. This year, we received $27 million, which we split, but that is not nearly enough to cover our actual losses.
“We have also lost several major sponsors, who are angry that we asked stallion owners to contribute half of the stallion fee in order to make their progeny eligible to race at The Meadowlands. This raised about $400,000, which still left us with an operating loss this year of over $5 million. We also charged $400 for 2-year-olds to race at The Meadowlands and that money was added to the purses for stakes events. Despite these tough times, The Meadowlands remains the top track in the sport when it comes to the stake races that every trainer, driver, and most of all, owner, want to win.
“This has really been a struggle. I wish I had better news, but we should know by the end of June where things stand.”