OCEANPORT — With the state’s campaign to allow wagering on sporting events headed back to the Third Circuit Court of Appeals, the management of Monmouth Park racetrack is charting a way around the impasse.
According to Dennis Drazin, advisor to Darby Development, operator of Monmouth Park, the Oceanport racetrack will move forward with plans to allow betting on fantasy sports.
“On its face, the court’s ruling does not restrain Monmouth Park from partaking in this type of activity,” said Drazin in a press release.
“Furthermore, we intend to continue our efforts to bring sports betting to our facility.”
The state is expected to appeal the Nov. 21 decision by U.S. District Court Judge Michael Shipp to grant the injunction sought by the professional sports leagues to block the racetrack from taking wagers on sporting events.
“Obviously we’re disappointed, but not terribly surprised,” Drazin said.
“After analyzing the rationale expressed by the court in granting a temporary restraining order last month, today’s action was rather expected.
“We will once again return to the Third Circuit Court of Appeals and ask that they order strict adherence to their 2013 decision, which established the roadmap for New Jersey to begin offering sports wagering.
“For now, it’s status quo. Nevertheless, we remain confident that the Third Circuit will render a favorable result for Monmouth Park.”
The Oceanport racetrack was the first venue in the state that would have been prepared to accept betting on athletic events on Oct. 26, but Shipp issued a temporary restraining order on Oct. 24.
Earlier this month, the state Legislature overwhelmingly approved a bill partially lifting the state prohibition on sports betting, setting the stage for Monmouth Park to start taking bets.
Just days after Gov. Chris Christie signed the bill into law, the NFL, NBA, NHL, NCAA and Major League Baseball filed suit and requested a restraining order to stop Monmouth Park from accepting sports bets.
Shipp ruled in favor of the leagues two other times. He issued an injunction to stop another New Jersey sports betting law in 2012.
The state sought to overturn the 2012 injunction, appealing to the Third Circuit Court of Appeals.
The Third Circuit, while upholding the injunction, rendered an opinion allowing the state to move forward despite a federal ban if the state did not sponsor or regulate the practice. Some saw that as a window of opportunity, and it became the basis for the recent legislation.
Under the state’s latest bill, any casino or racetrack could begin to take bets on professional or collegiate sports, with the exception of any collegiate contest taking place in New Jersey or any college athletic contest involving a New Jersey team.
Drazin, consultant to the New Jersey Thoroughbred Horsemen’s Association, which operates Monmouth Park, has estimated that $1 billion would be wagered each year at Monmouth Park if sports betting were legalized. That would amount to $75 million in annual revenues for the racetrack.
In anticipation of sports wagering, the William Hill Sports Bar at Monmouth Park recently underwent a $1 million renovation.
Monmouth Park’s development plans — including an indoor water park, hotel and other amenities — are tied to the additional revenues projected from sports betting.