Horse racing subsidy moves forward in New Jersey
A committee approved the proposed legislation to provide a US$20 million subsidy this week by 13-0.
US.- The New Jersey Senate Budget and Appropriations Committee voted this week on a proposed legislation to provide a US$20 million subsidy to the horse racing industry and approved it by a vote of 13-0.
The bill establishes that for the next five years the racing industry would count with the extra US$20 million, starting in fiscal 2019. The money would be supplied every year to the New Jersey Racing Commission to be used for horse racing purse subsidies, and the Thoroughbred and the Standardbred industries would split the money in half.
AJ Sabath, a lobbyist representing the Standardbred Breeders and Owners Association of New Jersey, said before the vote: “The horse racing industry has had a long road to recovery, and we feel this purse supplement money, as well as the ability to enter into agreements with sports book operators at the racetracks, would provide a necessary shot of adrenaline into the horse racing industry.”
State Senator Vin Gopal added that the bill would be a huge help for the horse racing industry that is an important part of New Jersey’s heritage and culture and a key source of jobs and economic activity. “There are tens of thousands of jobs impacted directly or indirectly by the racing industry, including the long-term survival of Monmouth Racetrack,” he added.
