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Wednesday, June 29, 2011

Going Through the Motions

Today the NJRC has put in a request for a subsidy from the Casino Reinvestment Act as a recent law change permits to help racing of both breeds.  If approved, Atlantic City Racecourse and Freehold Raceway would each get $2.5 million in purse subsidies and the Meadowlands and Monmouth Park would each get $5 million.  Of course, while Governor Christie didn't veto the legislation, he made it known that he would veto the minutes of the NJRC meeting which would kill the approval of these grants by the NJRC.  I guess there is no harm going through the motions, but realistically, unless the Governor and Lt. Governor leave the state for the 4th of July holiday and the next in line has the audacity to approve the minutes, the chances of the racing industry getting the subsidy is 99-1.

On a positive note, the Senate has approve the legislation allowing Morris Bailey and Jeff Gural to run their respective tracks with the NJSEA.  Without this legislation, they technically have no say in anything as they need to be licensed first.  By September 1, both tracks should officially be under private operation. 

The official announcement has come out.  The Meadowlands debuts the $.50 Pick 5 on Saturday night.  They also will include the Ladyship Stakes being run at Tioga Downs Saturday night as part of their regular racing program as race number three.  Expect to see many of the stakes races being run at Tioga and Vernon Downs when the Meadowlands is running to be part of the racing card.  It is a win-win situation.  More money will be bet on these races at the Meadowlands than if they were just offered as part of a simulcast program and the host tracks still get their share of simulcast revenue.  As for the Meadowlands, they get a high-quality race on their racing card which may draw interest from out of state customers who normally wouldn't look at a race from Tioga or Vernon.

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