“The problem we have is very simple,” added Gural. “The state of Pennsylvania gives $250 million to the Pennsylvania racetracks from slot machines to subsidize their purses, and the state of New York gives $200 million. So the purses at the Meadowlands are half of what they are at the two Pennsylvania tracks and Yonkers. Where would you race?\u201d<\/p><\/blockquote>\n
The bill\u2019s primary sponsor, State Assemblyman John Burzichelli (D-3rd), said that the industry had been \u201cstarved\u201d over the past seven years and the funding would produce a beneficial ripple effect for other industries, like farming.<\/p>\n
“The success of the horse racing industry automatically means farmland preservation,\u201d he said. \u201cThis investment will be measured against its success as to whether it continues.”<\/p>\n
Tracks will be required to produce an economic report each year to shows the subsidies are having the desired impact of boosting betting,\u00a0attendance and field size.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Jersey horse racing is one signature away from a $100 million cash boost which promises to put the industry back on track. On Thursday, the state Assembly voted emphatically to approve a bill that will restore the subsidy for the New Jersey horse racing racing industry that was withdrawn seven years ago under the […]<\/p>\n","protected":false},"author":36,"featured_media":97586,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,14577,61],"tags":[],"acf":[],"yoast_head":"\n
New Jersey Lawmakers Vote to Restore Horse Racing Subsidy<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n