Pair of horse racing bills signed by NJ governor – BusinessWeek
Pair of horse racing bills signed by NJ governor
Gov. Chris Christie signed a pair of bills Monday aimed at aiding New Jersey’s struggling horse racing industry.
One gives racetracks and casinos the ability to accept more advance wagers on simulcast races.
Another allows standardbred permit holders at the Meadowlands Racetrack and Freehold Raceway to shorten the season to a minimum of 75 dates. That’s down from 141 at the Meadowlands and 168 at Freehold.
The laws are the latest in a series enacted by New Jersey lawmakers responding to Christie’s directive that horse racing be forced to become a self-sustaining entity that does not receive any government subsidies.
In a related development Monday, the New Jersey Sports & Exposition Authority announced it will begin negotiations with real estate developer Morris Bailey for the private leasing of the Monmouth Park thoroughbred racetrack in Oceanport. Bailey is the founder of two real estate development firms and in December purchased Resorts Atlantic City. He is also a horse owner and breeder.