New Jersey Gov. Jon Corzine last week created a horse racing industry commission to evaluate and recommend potential long-term funding options for the waning sport.
Since 1999, horse racing attendance has decreased and revenues have dropped at Meadowlands Racetrack, Monmouth Racetrack, and Freehold Raceway. One racing facility, Garden State Park, closed in 2002. Officials would like to help boost the sport which adds revenue to the state’s coffers and promotes tourism.
“The horse racing industry plays an important role in New Jersey, from preserving open space to attracting visitors to our state,” Corzine said in a press release. “I have named representatives from the horse racing and casino industries to this commission because it is essential for the gaming industry to work together to find a long-term funding solution that will allow both racing and casino gaming to thrive in New Jersey.”
Robert Bildner, who owns RLB Food Enterprises, will chair the 15-member committee. Other members include Summit Mayor Jordan Glatt, New Jersey Standardbred Breeders and Owners Association president Thomas Luchento, New Jersey Thoroughbred Horsemen’s Association president Dennis A. Drazin, Trump Entertainment and Resorts chief executive officer Mark Juliano, and Harrah’s Entertainment Corp. attorney David Satz.
In 2008, the governor helped broker a deal between the horse racing industry and the state’s casinos, with the casinos paying $90 million to bolster racing purses and help finance equine breeding programs. In return, the racetracks agreed to not implement slot machines at their facilities for three years.
