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03-03-2008, 10:58 PM
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#1
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Registered User
Join Date: Aug 2005
Posts: 2,924
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Tracks take the easy money in NJ
http://www.nj.com/news/index.ssf/200...he_casino.html
The casino industry will pay $90 million to keep New Jersey's horse-racing industry alive for the next three years, Gov. Jon Corzine said today.
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03-04-2008, 12:32 AM
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#2
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Veteran
Join Date: Nov 2006
Posts: 1,622
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Very good news ... long overdue. 
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03-04-2008, 06:49 AM
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#3
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Registered User
Join Date: Dec 2006
Posts: 1,336
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I would love to have heard the un-edited version of this discussion....
Good for MTH Park.
John
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03-04-2008, 08:04 AM
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#4
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Registered User
Join Date: Aug 2007
Location: Jersey Shore
Posts: 1,189
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Hopefully everyone doesn't wait for the 3 years to run out before considering what is going to happen in 2011. Breeders are being asked to run a 4-5 year breeding to race cycle on 3-4 year agreements. It isn't sustainable. Hopefully all start discussing how slots at Meadowlands can be a win-win or, if not, hammer out something longer term
I don't know how much the t'breds get but based on an assumed $185k/day without subsidy for the past few years, t'breds must get about half ($21 million per year*50% over 100 days gets you about $105k/day). Using this assumption, the additional $9 million/year would equate to $45k/day if they can spread over 100 days rather than the 120 required by law, bringing daily purses to the $350k range.
Horsemen on board you may have better insight but I think this is a pretty good guess. If so, NJ will be $100k+ ahead of Delaware per day.
While the racing isn't great, and I'm not really sure where it is great other than Keeneland, Saratoga and Belmont in doses, I'm now really looking forward to another great summer at Monmouth Park.
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03-04-2008, 08:39 AM
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#5
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Guest
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They had to pull the "we'll put slots in the Meadowlands" card (and I can see the lobbyists lined up to pay people to stop that one), but at least it worked. If they're going to keep slots out of the racetracks, I have no problem with the casinos kicking in some cash.
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03-04-2008, 08:47 AM
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#6
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Registered User
Join Date: Aug 2007
Location: Jersey Shore
Posts: 1,189
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Agree JMA the model isn't a bad one. I just hate the fact that there are people that would not go to AC that are going to Yonkers, and that NJ could pull them to Meadowlands for everyone's benefit, including the AC casinos as they would have to have rights to run the "cino" side of the racino.
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03-04-2008, 03:46 PM
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#7
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s.e. pa.
Join Date: Apr 2005
Location: flag, az/hatfield, pa.
Posts: 5,122
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The casinos provided $86 million to the horseracing industry over the last four years.
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03-04-2008, 04:28 PM
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#8
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Registered User
Join Date: Mar 2007
Location: Manhattan
Posts: 3,826
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Quote:
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Originally Posted by jma
They had to pull the "we'll put slots in the Meadowlands" card (and I can see the lobbyists lined up to pay people to stop that one), but at least it worked. If they're going to keep slots out of the racetracks, I have no problem with the casinos kicking in some cash.
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Could you imagine slots and a big poker room at the Meadowlands? That would do some major damage to AC.
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03-04-2008, 05:02 PM
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#9
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Registered User
Join Date: Dec 2006
Posts: 1,336
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Quote:
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Originally Posted by badcompany
Could you imagine slots and a big poker room at the Meadowlands? That would do some major damage to AC.
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"The fellas" would never let that happen...
John
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03-04-2008, 05:23 PM
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#10
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Registered User
Join Date: Aug 2005
Posts: 2,924
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Quote:
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Originally Posted by badcompany
Could you imagine slots and a big poker room at the Meadowlands? That would do some major damage to AC.
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They also have a pretty nice facility in Woodbury from what I hear. I think those 2 places could do well over 30 million a year combined.
Monmouth has a train station right there, so I would guess another 20 to 30 million there as well.
New Jersey continually shoots itself in the foot at the expense of casino lobbyists.
Allow slot machines to Simulcast locations and watch how fast they build one in Cherry Hill!
I know it aint happening anytime soon. 
Jim
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03-04-2008, 07:06 PM
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#11
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Registered User
Join Date: Oct 2007
Location: NJ
Posts: 5,851
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Quote:
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Originally Posted by njcurveball
They also have a pretty nice facility in Woodbury from what I hear. I think those 2 places could do well over 30 million a year combined.
Monmouth has a train station right there, so I would guess another 20 to 30 million there as well.
New Jersey continually shoots itself in the foot at the expense of casino lobbyists.
Allow slot machines to Simulcast locations and watch how fast they build one in Cherry Hill!
I know it aint happening anytime soon.
Jim |
If you are talking about favorites, the one in Woodbridge(fords) is one of the top otw's in the nation. In fac they are looking to add another one in Green Brook NJ or Bridgewater very soon. If people pushed it hard enough Pegasus at the Meadowlands could be the perfect spot for a casino. The place is set-up to be turned into one literally overnight. Thats the reason the casinos gave the money for all races and not just subsidizing NJ bred races like they wanted to do. Could you imagine a race card with 9 NJ bred races on it 3x a week? That would clear the place out.
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03-04-2008, 07:09 PM
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#12
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Registered User
Join Date: Oct 2007
Location: NJ
Posts: 5,851
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Quote:
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Originally Posted by badcompany
Could you imagine slots and a big poker room at the Meadowlands? That would do some major damage to AC.
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It is perfect for one, that would send a signal to Corzine to stop with the toll hike crap and let a casino go into Pegasus. Talk about closing the budget gap, thats a huge start.
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03-04-2008, 07:17 PM
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#13
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easygoer
Join Date: Feb 2007
Posts: 976
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I know this sounds crazy, but if the race tracks in New Jersey put sports betting,than A. C. could keep the slots. There was talk about putting sports betting at A. C. But if they made a agreement to put sports bettin at the race tracks, it could be a win-win for everybody. (Excuse me, I am just dreaming.)
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03-04-2008, 09:31 PM
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#14
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Pace Cappa
Join Date: Apr 2002
Location: Canada
Posts: 4,649
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Quote:
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Originally Posted by njcurveball
They also have a pretty nice facility in Woodbury from what I hear. I think those 2 places could do well over 30 million a year combined.
Monmouth has a train station right there, so I would guess another 20 to 30 million there as well.
New Jersey continually shoots itself in the foot at the expense of casino lobbyists.
Allow slot machines to Simulcast locations and watch how fast they build one in Cherry Hill!
I know it aint happening anytime soon.
Jim |
Favorites is very nice, I had dinner there on Saturday Night after the Breeders Cup. Very classy place !!!
Z
__________________
http://www.youtube.com/watch?v=J2hFZ8KnsSo
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03-05-2008, 01:00 AM
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#15
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Veteran
Join Date: Nov 2006
Posts: 1,622
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Quote:
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Originally Posted by badcompany
Could you imagine slots and a big poker room at the Meadowlands? That would do some major damage to AC.
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Paraphrasing one of my posts from '07 ... put sports betting into MTH and MED. The windows are already there - just add a few more lounge/tv setups and some expanded tote boards. AC loses nothing, since they don't have sports books now. (And who knows; with Vegas as the only competition, the sports handle could be so huge as to make it profitable to convert jersey shopping malls back into horse farms!  )
Last edited by Kelso; 03-05-2008 at 01:05 AM.
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