Acting on his commitment to create a self-sustaining horse racing industry in the Garden State, New Jersey Governor Chris Christie today signed legislation that facilitates the operational takeover of horse racing from the New Jersey Sports & Exposition Authority (NJSEA) by private sector operators and authorizes the joint management of Monmouth Park and the Meadowlands Racetrack for a one-year transitional period. In addition, the legislation reduces the statutorily mandated thoroughbred racing days and permits horsemen’s organizations and track operators to mutually agree to a revised split of simulcast revenues collected at the tracks. The Governor signed the bill on the eve of the Hambletonian, a 30-year racing tradition and the richest harness racing event of its kind.
“My goal has always been to ensure a financially sound and independent future for New Jersey’s storied horse racing legacy,” said Governor Christie. “With the legislation I am signing today, we are taking the critical next step toward securing an independent and self-sustaining horse racing industry in the Garden State – one that no longer depends upon casino subsidies for its survival. We are also saving the state’s beleaguered taxpayers tens of millions of dollars in annual operational subsidies at both venues. I want to thank the NJSEA, Jeff Gural, Morris Bailey, Tom Lucento and John Forbes, the leaders of the standard bred and thoroughbred owners associations, for their commitment to finding a long-term solution that benefits the industry and those who rely on it for their livelihoods, as well as the taxpayers of this state.”
Acting to reverse the decline of New Jersey’s horse racing industry, the bill, A-3710, gives the NJSEA the power to jointly run racetrack operations at Monmouth Park and the Meadowlands with the tracks’ new private operators during the transitional period of transfer, ensuring the industry and live racing continue uninterrupted. It also permits the New Jersey Racing Commission to extend the transitional period for a reasonable amount of time but not beyond two years from the date that the lease agreement is executed.
Additionally, the legislation calls for the replication of Monmouth Park’s “elite meet” from the 2010 racing season by reducing thoroughbred race dates from 141 to 71. Finally, the bill provides for flexibility in the manner in which simulcast funds are divided between the breeds as long as such alternative distribution is agreed upon by the horsemen’s organizations and the racetrack operators.
Sponsors of A-3710 include Assemblymembers Ronald S. Dancer (R-Burlington, Mercer, Monmouth, Ocean), John J. Burzichelli (D-Salem, Cumberland, Gloucester), Joseph R. Malone, III (R- Burlington, Mercer, Monmouth, Ocean) and Gordon M. Johnson (D-Bergen).
Governor Christie has been steadfast in his commitment to put the New Jersey horse racing industry on the path of self-sufficiency, save New Jersey taxpayers millions of dollars annually and end the racing industry’s reliance on purse subsidies. He has taken numerous actions over the past year to provide the racing industry with the tools it needs to become vibrant and independent by:
Negotiating agreements to end public subsidies of operations and purses for standard bred and thoroughbred racing;
Supporting the expedited development of off-track wagering (OTW) facilities in New Jersey and the construction of a new grandstand at the Meadowlands with private capital;
Signing legislation to remove barriers to the establishment of OTWs by permitting persons other than racetrack operators to run OTW facilities, making OTWs a permitted use in all commercial and industrial municipal land use zones, and increasing the accessibility to liquor licenses for OTW operators;
Signing measures that allow for “exchange wagering” at New Jersey’s horse racing venues as well as establishing a single pari-mutuel pool for every horse race to provide opportunities to increase revenue for the racing industry by attracting new bettors.
In February 2010, Governor Christie issued Executive Order 11, creating the New Jersey Gaming, Sports and Entertainment Advisory Commission, to provide recommendations to comprehensively address the unprecedented financial and structural challenges confronting New Jersey's gaming, professional sports and entertainment industries. Specifically, the Hanson Commission focused its work on five key issues confronting New Jersey's gaming, professional sports, and entertainment industries, including the viability of New Jersey’s horse racing industry. In July and November 2010, it provided recommendations for the creation of a sustainable industry structure to preserve live horse racing as well as reinvigorating the industry in the Garden State.
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