Committee advances legislation that seeks to hike racing purses

The Assembly Regulatory Oversight and Gaming Committee has unanimously approved a plan that would permit the Meadowlands Racetrack, East Rutherford, and Monmouth Park, Oceanport, to run fewer races, which would increase the amount of purses and revive New Jersey’s horse racing industry, according to a press release.

The legislation is sponsored by Assemblywoman Caroline Casagrande (R-Monmouth and Mercer) and Assemblyman Ronald S. Dancer (R-Monmouth, Ocean, Burlington and Mercer).

The committee approved the legislation last week.

The legislation, A-2507, codifies an agreement between the racetracks and horsemen’s associations and is expected to allow Monmouth Park’s daily purses to grow from $330,000 in 2009 to more than $1 million this year.

“This was crafted from successful models created in Japan and Australia that have proven fewer races equal larger purses, which will benefit the entire industry including the tracks, the horsemen and farms throughout New Jersey,” Casagrande said. “This will be a key part in our effort to modernize horse racing so that it remains a vital component of our state’s culture and economy.”

According to the press release, the plan also has the backing of Bob Mulcahy, a member of Gov. Chris Christie’s commission that is working to fix New Jersey’s gaming, sports and entertainment industries.

“The challenges facing horse racing are real, but they are not insurmountable if we all work together and find creative ways to reshape the industry,” said Dancer, who is also the mayor of Plumsted Township.

“Horse racing is too important to our state’s economy and heritage to simply let it go away. We can reconfigure the sport so that it remains competitive with other states and plays an important role in rebuilding New Jersey’s economy,” said Dancer, whose late father, Stanley Dancer, was a legendary harness racing driver.

The bipartisan legislation is also sponsored by Assemblyman John J. Burzichelli (D-Gloucester), chairman of the Assembly Regulatory Oversight and Gaming Committee. It now heads to the full Assembly for consideration.