NJ Racing Nearing The End

[Stevie Belmont]

This Gov is cutting everything and anything—and has no interest in racing at all...damn shame

http://www.bloodhorse.com/horse-racing/articles/55476/nj-governor-vetoes-budgets-of-racing-groups

[46zilzal]

LOTS of venues will soon follow as Emerald is on it's last legs and the casion idiots are killing all semblance of it locally

[sonnyp]

its just the beginning of what lies ahead.

all these states with "racinos" that feel the racing industry has been "saved" are in for a rude awakening.

when the initial contracts are up, contracts in which horse racing is tolerated to get the casino activity started, and the realization that revenue contributed by the horses is actually a deficit, the horses will be out the door again.

[Tom]

Why should any tacks be getting subsidized by taxpayers?
Why can't they run themselves on their own merits?
If they can't make money without tax dollars, they should close down.

That goes for all tracks.

This is total nonsense - whoever asked for that money should be tarred and feathered. Then served up as an appetizer at the banquet.

According to the governor’s office, the TBANJ budget was up 19.8% from 2009. Targeted by Christie were $42,500 for the New Jersey Thoroughbred Festival at Monmouth Park; $40,000 for lobbyists; and $10,000 for an awards banquet.

[castaway01]

Why should any tacks be getting subsidized by taxpayers?
Why can't they run themselves on their own merits?
If they can't make money without tax dollars, they should close down.

That goes for all tracks.

This is total nonsense - whoever asked for that money should be tarred and feathered. Then served up as an appetizer at the banquet.

Tom, the state owns and runs the tracks---they're not private businesses asking for tax dollars. This is part of the state budget process because the tracks are state entities.

[tzipi]

its just the beginning of what lies ahead.

all these states with "racinos" that feel the racing industry has been "saved" are in for a rude awakening.

when the initial contracts are up, contracts in which horse racing is tolerated to get the casino activity started, and the realization that revenue contributed by the horses is actually a deficit, the horses will be out the door again.

SO TRUE! I've been saying this all along. They just took on the horses so they could get their foot in the door. Racinos want NO part of the horses. Casinos make the big bucks. Horses drag them down.

[miesque]

Why should any tacks be getting subsidized by taxpayers?
Why can't they run themselves on their own merits?
If they can't make money without tax dollars, they should close down.

That goes for all tracks.

This is total nonsense - whoever asked for that money should be tarred and feathered. Then served up as an appetizer at the banquet.

I 1000% agree with you. Racing needs to get out of the welfare mindset and learn to live or die on their own merits. The fact that racing thinks it "deserves something" is in many ways why it is dying. Too many years of a monopoly, only game in town mindset and not adapting to a much more competitive climate for both gambling and entertainment dollars.

[Charlie D]

Though i have my doubts. A few tracks going under may turn lights with those that make the decisions for the racing business.

[46zilzal]

Though i have my doubts. A few tracks going under may turn lights with those that make the decisions for the racing business.


Not if the "Dinnies" have anything to say about it

[toussaud]

it's because the horse people for the most part are way too shortsighted. they see the purses at penn national and throw a hissy fit and demand the same.

I'm not so sure the Kentucky government is that far off base with what they are doing. If you cant' run your business without government help, i'm not saying you shouldn't' get it, but it's not manifest destiny. by any means.

Banks are going out of business every day (i've had to change banks 2 times in the last year), you don't see the government helping the smaller banks out.

[onefast99]

it's because the horse people for the most part are way too shortsighted. they see the purses at penn national and throw a hissy fit and demand the same.

I'm not so sure the Kentucky government is that far off base with what they are doing. If you cant' run your business without government help, i'm not saying you shouldn't' get it, but it's not manifest destiny. by any means.

Banks are going out of business every day (i've had to change banks 2 times in the last year), you don't see the government helping the smaller banks out.
We could do an entire thread on the banks that would need help the most and because they are too small they are theoretically not eligible for the tarp funds or emergency rescue monies of which was given to the nations largest banks who have made trillions off it and have done nothing to filter those monies back into the economy. As far as NJ racing goes the budget cut took out the NJ festival that was at MP every summer, it was just ok. The lobbyists won't have their 10k seed money so what. The object is to cut where the Gov believes he should cut, this has nothing to do with the future of the tracks. That will come once the newly formed racing committee looks to see how a revenue stream can be generated to keep NJ racing competitive with neighboring states. Currently the OTW's absorb approximately 10m of the 21m losses which seem very high to me.

[fmolf]

We could do an entire thread on the banks that would need help the most and because they are too small they are theoretically not eligible for the tarp funds or emergency rescue monies of which was given to the nations largest banks who have made trillions off it and have done nothing to filter those monies back into the economy. As far as NJ racing goes the budget cut took out the NJ festival that was at MP every summer, it was just ok. The lobbyists won't have their 10k seed money so what. The object is to cut where the Gov believes he should cut, this has nothing to do with the future of the tracks. That will come once the newly formed racing committee looks to see how a revenue stream can be generated to keep NJ racing competitive with neighboring states. Currently the OTW's absorb approximately 10m of the 21m losses which seem very high to me.
Racing needs to go thru a market correction.This will lead to better racing,fuller more competitive fields and a return of larger pools and most important less and more selective breeding.IMHO and this process is long overdue!

[lamboguy]

this is what is happening in america today, people are lazy and look for instant gratification. the casino business is completely non-productive......horse tracks put plenty of people to work on farms all over the country. new jersey had it right with their breeding program, but they never took the steps to insure racing survives. its easy to cut budgets on somewhat unpopular business. the casino's have taken over the state of new jersey, atlantic city is and always will be a dump, not matter how tall they build the hotels, if i was christie i would step up to the plate and throw those hotels out of the state. close them all down fast. make the racetracks casino's and take down more of a piece of the action.

the casino's end up paying squat for what they take out of the economy of new jersey. they don't want to subsidise the horse's, so its time for them the casino's to lose their subsidy's from the state.



the subsidy that the casino gets is they don't pay enough

[tzipi]

http://conservablogs.com/muthstruths/2008/12/21/the-great-illinois-horse-track-bailout-of-2008/
Just found reading around.

WOW! How much casino money is going to wasted on a dying sport. 80 million bailout didn't even help there. What's to come for my sport? I'm afraid! :eek:

[Robert Goren]

Tom, the state owns and runs the tracks---they're not private businesses asking for tax dollars. This is part of the state budget process because the tracks are state entities.If they had a positive revenue flow, the state would not be closing them.

[Bluto Blutarsky]

Why should any tacks be getting subsidized by taxpayers?
Why can't they run themselves on their own merits?
If they can't make money without tax dollars, they should close down.

That goes for all tracks.

This is total nonsense - whoever asked for that money should be tarred and feathered. Then served up as an appetizer at the banquet.

Tom & Miesque-
This is much ado about nothing.
The Governor has no right to tell the breeders how to spend their money since they are not a state agency. It sure does make for good press though. Any money that may be eliminated from some of the line items will NOT go back to the State of New Jersey, it will continue to be used for operating expenses or incentive awards. The Breeders Association is NOT part of the state government and does not receive any subsidies from the state. When the Governor's Office takes the time to check out the mission statement and tax status of the group this issue will be cleared up fairly quickly.
But I'm sure that news will never make the papers.