Governor Chris Christie signed legislation while attending Monmouth Park’s opening day this past weekend, which was designed to revitalize New Jersey’s horse racing industry. The bill, A-2507, reduces the number of racing days at Monmouth Park to 71. The changes will result in greatly increased purses and excitement for the sport of horseracing in New Jersey. Purses will average $1 million a day, making it the richest racing program in the nation.
The bill also:
Amends the “Casino Simulcasting Act”, in 2010 only, to allow simulcasting to continue despite the change in the number of racing days.
Allows for the Standardbred Breeders’ and Owners’ Association of New Jersey to grant $3 million to the New Jersey Sports and Exposition Authority (NJSEA) to promote the continued viability and success of the Meadowlands and Monmouth race tracks.
Allows for the New Jersey Thoroughbred Horsemen’s Association (NJTHA) to make use of up to $2 million in loans to the NJSEA for use as purse money in 2010 at Monmouth Park Racetrack.
Allows for certain horse racing related funds to enhance purses.