The Meadowlands Racetrack and the Standardbred Breeders and Owners of New Jersey have announced that they have reached a revenue sharing agreement for the next 10 years that will annually add a minimum of $1m from the venue’s sports betting monies to the purse account.
“With a bill for a five-year $100m purse appropriation scheduled to be introduced in the legislature shortly, we are all hopeful that we will be able to continue our good work with the SBOA and bring the Meadowlands back to its stature as a premier racing venue” noted New Meadowlands Racetrack Chairman Jeff Gural.
SBOA President Mark Ford was equally enthusiastic, imploring all horsemen to reach out to their legislators to let them know how important this bill is to the future of racing and breeding in New Jersey.
He also reminded horsemen that “if you are betting sporting events be sure to place your bets with FanDuel at the Meadowlands or use the FanDuel app, as a portion of every dollar you wager will show up in the purse account.”
The horsemen are now hopeful of securing a five-year, $100m purse subsidy proposal in the state legislature that would add $6m per annum for Meadowlands purses, $1.6m for Freehold Raceway purses, $10m for Monmouth Park, and $2.4m toward breeder awards and stakes bonuses.