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Sports Authority to seek buyer for Monmouth Park

After signing two bills that attempt to ensure a self-sustaining horse racing industry in New Jersey, Gov. Chris Christie Monday also conditionally vetoed the related "Off Track and Account Wagering Act" and proposed revision he believes would help facilitate operations at both the Meadowlands Racetrack and Monmouth Park.

The conditionally vetoed bill provides for revisions for the development of off track wagering facilities throughout the state.

"While I wholeheartedly endorse the objectives behind A-1705, a conditional veto is necessary to give us the necessary flexibility and latitude in negotiations, as it relates to the assignment of off track wagering locations, and that any future OTW locations not be hampered out of the gate with additional fees on their operations," Christie said. "While we continue to progress in a dialogue to develop a self-sustaining thoroughbred racing industry in New Jersey, it is critical that we have all tools available to reach an agreement that protects taxpayers and the needs of industry partners."

Assemblyman Ronald S. Dancer (R-Ocean) said of the conditional veto, "It's vital to get every detail correct as we revamp our state's horse racing industry and position it for success as a self-sustaining part of our economy. The governor's recommendations will ensure that our efforts to expand off-track wagering don't interfere with the progress we've made transitioning the Meadowlands from public to private operation and weaning the industry off taxpayer support. I welcome the governor's input and I am confident that all of the Legislators on both sides of the aisle who initially voted for this bill will also support these improvements."

On Dec. 17, Christie announced a plan to preserve live Standardbred racing at the Meadowlands Racetrack through the lease of that facility to the Standardbred Breeders and Owners Association (SBOA). The assignment of four off-track wagering locations to the SBOA is a critical component of that agreement.

Consistent with the governor's attempt to ease the burden borne by taxpayers in subsidizing New Jersey's horse racing industry and the recommendations of the supplementary report of the Hanson Commission issued on Nov. 15, the administration also announced that the state Sports and Exposition Authority will issue in the near future a request for proposals for the purchase of Monmouth Park, including assignment of additional off-track wagering operations.

The two bills (S-2229 and A-2926) signed by the governor allow for "exchange wagering" at New Jersey tracks as well as establishing a single pari-mutuel pool for every horse race.

"These measures represent the next steps in following through on my administration's commitment to securing a strong, independent, self-sufficient horse-racing industry in New Jersey," Christie said. "We are providing new tools to help the industry implement new strategies, generate additional revenue and capitalize on interest in horse racing around the state. Along with our ongoing efforts to transform racing at the Meadowlands and Monmouth Park through private management, these measures will place horse racing on a path to economic stability and sustainability without public subsidy that New Jersey taxpayers can simply no longer afford."

— TOM HESTER SR., NEWJERSEYNEWSROOM.COM