“Horse racing looks like a sure bet” plus 1 more |
| Horse racing looks like a sure bet Posted: 11 Jan 2011 12:46 AM PST The state's struggling horse racing industry took a big step Monday toward receiving up to $30 million to supplement racing purses over the next three years, after leading state Democrats amended a bill to address concerns raised by Governor Christie.  AP FILE PHOTO In this file photo, the drivers watch on the screen as Muscle Massive (6), driven by Ron Pierce, finishes ahead of Lucky Chucky, driven by John Campbell, to win the 2010 Hambletonian at Meadowlands Racetrack. Assemblyman John Burzichelli, D-Gloucester, said that, based on those negotiations, he was confident Christie would sign the bill, which the Assembly approved 71-5. A Christie spokesman was not immediately available to comment on the bill, which did not pass until after 8 p.m. because of delays in revising its language. The state Senate, also working late, passed the revised bill a half-hour later. The Assembly and Senate also approved an Internet gambling bill. With Christie's signature, New Jersey would become the first state to allow its residents to wager money on poker and other games on their computers. The horse racing subsidy was included in a bill that creates an Atlantic City Casino District with state oversight. Christie supports the creation of the casino district but has objected to the racing subsidy. The bill phases out the annual purse subsidy — which was $30 million in 2010 — to $15 million in 2011, $10 million in 2012, and $5 million in 2013. After a series of negotiations with Christie, the Assembly's Democratic majority reconvened with a revised bill that puts the state Racing Commission in charge of overseeing the disbursal of the $30 million. "The changes make sense — you have the people that know the industry distributing the purse money," Burzichelli said. The Meadowlands Racetrack and Monmouth Park had been receiving a $30 million annual purse subsidy from the Atlantic City casino industry, which in return was guaranteed to face no competition from slot machines coming to either site. Those purse supplements expired in 2010, and Christie cut a preliminary deal last month to have Manhattan real estate mogul Jeff Gural take over operation of the Meadowlands track as of April 1 – or else the track would be closed, Christie said. Gural has said he intends to greatly reduce expenses while also increasing attendance by marketing to families. Assemblywoman Connie Wagner, D-Paramus, said she was pleased that a compromise was reached, but also said she still is worried about whether the Gural deal can be completed. "If it isn't, then what happens to the track on April 1?" Wagner said. It's not clear if Christie will move to block the online gambling bill, but he has expressed reservations previously. Three related bills also passed the Assembly overwhelmingly Monday: * Creation of a Casino Gaming Study Commission to assess the economic impact of a possible Meadowlands casino. * A bill to reduce the amount of regulations in the Atlantic City casino industry — a move intended to help casinos lower costs while also making the city more attractive to future developers. * A bill that provides incentives for continued breeding of racehorses in the state. The Legislature has worked extensively on horse racing and casino issues since July, when Jon F. Hanson — Christie's adviser on the state's sports and entertainment interests — issued a report that recommended creation of the Atlantic City Tourism District as well as having the state get out of the horse racing industry. The state's struggling horse racing industry took a big step Monday toward receiving up to $30 million to supplement racing purses over the next three years, after leading state Democrats amended a bill to address concerns raised by Governor Christie. Assemblyman John Burzichelli, D-Gloucester, said that, based on those negotiations, he was confident Christie would sign the bill, which the Assembly approved 71-5. A Christie spokesman was not immediately available to comment on the bill, which did not pass until after 8 p.m. because of delays in revising its language. The state Senate, also working late, passed the revised bill a half-hour later. The Assembly and Senate also approved an Internet gambling bill. With Christie's signature, New Jersey would become the first state to allow its residents to wager money on poker and other games on their computers. The horse racing subsidy was included in a bill that creates an Atlantic City Casino District with state oversight. Christie supports the creation of the casino district but has objected to the racing subsidy. The bill phases out the annual purse subsidy — which was $30 million in 2010 — to $15 million in 2011, $10 million in 2012, and $5 million in 2013. After a series of negotiations with Christie, the Assembly's Democratic majority reconvened with a revised bill that puts the state Racing Commission in charge of overseeing the disbursal of the $30 million. "The changes make sense — you have the people that know the industry distributing the purse money," Burzichelli said. The Meadowlands Racetrack and Monmouth Park had been receiving a $30 million annual purse subsidy from the Atlantic City casino industry, which in return was guaranteed to face no competition from slot machines coming to either site. Those purse supplements expired in 2010, and Christie cut a preliminary deal last month to have Manhattan real estate mogul Jeff Gural take over operation of the Meadowlands track as of April 1 – or else the track would be closed, Christie said. Gural has said he intends to greatly reduce expenses while also increasing attendance by marketing to families. Assemblywoman Connie Wagner, D-Paramus, said she was pleased that a compromise was reached, but also said she still is worried about whether the Gural deal can be completed. "If it isn't, then what happens to the track on April 1?" Wagner said. It's not clear if Christie will move to block the online gambling bill, but he has expressed reservations previously. Three related bills also passed the Assembly overwhelmingly Monday: * Creation of a Casino Gaming Study Commission to assess the economic impact of a possible Meadowlands casino. * A bill to reduce the amount of regulations in the Atlantic City casino industry — a move intended to help casinos lower costs while also making the city more attractive to future developers. * A bill that provides incentives for continued breeding of racehorses in the state. The Legislature has worked extensively on horse racing and casino issues since July, when Jon F. Hanson — Christie's adviser on the state's sports and entertainment interests — issued a report that recommended creation of the Atlantic City Tourism District as well as having the state get out of the horse racing industry. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| Tourism, horse-racing bills OK'd Posted: 11 Jan 2011 06:19 PM PST TRENTON — Bills to create an Atlantic City tourism district and boost horse racing received full approvals Monday night after a marathon session in the state Legislature. Nearly eight hours after lawmakers were scheduled to begin the sessions, the Senate gave its OK to bills a few minutes after they were amended and approved by the Assembly. If Gov. Chris Christie signs the measures into law, the powers and duties of the Casino Reinvestment Development Authority will broaden, and efforts will begin on creating a spruced-up tourism district for Atlantic City, featuring a strong police presence. Some of the money generated from casino deregulation will be directed to the New Jersey Racing Commission, which will be authorized to pay $30 million over a three-year period into purses for horse races. The state's Republican governor has said he is not favor of providing subsidies for horse racing, but prime bill sponsor Assemblyman John J. Burzichelli, D-Gloucester, said the package as a whole can revitalize the entire gaming industry. "The Atlantic City portion will benefit the residents there and also the people who rely on the city for employment, and we've taken a lot of steps to help the racing industry help itself," Burzichelli said. "Monmouth Park had a fantastic season last summer and became a model for the racing industry. The help with purses I hope are enough to give the state's industry enough time until they can generate money from more off-track wagering sites and other revenue sources." The delay in producing amendments was mostly prolonged by disputes over the boundaries over the Atlantic City tourism district, lawmakers said. Assemblyman Vincent J. Polistina, R-Atlantic, said the initial district borders "were doomed for failure." Atlantic City Mayor Lorenzo Langford has threatened to sue the state over the proposed district. Burzichelli said the original bill language left the task of drawing up the district lines to the Casino Reinvestment Development Authority, or CRDA, but that was changed in the final hours before votes were taken. (2 of 2) "It was decided to have a default map that says here are the parameters, then giving the CRDA 90 days to look at that and absorb it and decide whether to tweak it," he said. Burzichelli said the basic parameters include the boardwalk, the marina district, the former Bader Field airport and the shopping areas. "It's everything a person visiting the city would expect to be in a tourism district," Burzichelli said. In the deregulation bill, the Casino Control Commission would become the responsibility of the Department of Law and Public Safety's Division of Gaming Enforcement. The measures passed by wide margins. Sen. Jim Whelan, D-Atlantic, who sponsored the Senate's versions of the legislation, said, "Atlantic City's casino industry is the lifeblood of the South Jersey economy and a key engine in the entire state's economic stability. However, despite (its) importance to our fiscal and economic well-being, New Jersey has, for far too many years, ignored the problems which have driven casinos to the brink of disaster. "With the final legislative approval on these bills today, we're taking a stand against the decay and stagnation of the casino industry," he said. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
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