TRENTON – Governor Phil Murphy today signed S2992 into law, which appropriates $20 million to the New Jersey Racing Commission for horse racing purse subsidies for this fiscal year, with all future appropriations subject to the budget. This funding will be allocated by the New Jersey Racing Commission equally between the thoroughbred industry and the standardbred industry.  

“New Jersey’s horse racing industry is a key economic engine, supporting thousands of jobs and attracting tourists and fans from around the world,” said Governor Murphy. “Our state has a long and proud history of horse racing and we must recapture our competitive edge in the industry. With this funding, New Jersey can continue to offer one of the most exciting horse racing experiences in the nation, while also providing a boost to an industry that is integral to our economy.”

All of the funds allocated to the thoroughbred industry will be allocated to Monmouth Park overnight purses. Of the funds allocated to the standardbred industry, 60 percent will be allocated to Meadowlands overnight purses, 16 percent to Freehold overnight purses, 12 percent to the New Jersey Sire Stakes purses, 6 percent to purse bonuses for New Jersey sired horses, and 6 percent for breeders awards purses. The legislation also requires the recipient of any funds appropriated to file an annual report with the New Jersey Racing Commission that documents the purposes for which those funds were used and the amounts allocated for those purposes. 

Primary sponsors of the bill include Senators Vin Gopal, Paul A. Sarlo, and Steven Oroho; and Assemblymembers John J. Burzichelli, Eric Houghtaling, Joann Downey, and Ronald S. Dancer.

“This support is vital to the horse racing industry. It is an important part of New Jersey’s heritage and culture and a key economic driver, especially here in Monmouth County,” said Senator Gopal. “With tens of thousands of jobs impacted, directly and indirectly, I am commend the Governor, the Senate and the Assembly for their bipartisan leadership on this issue." 

“The success of our racetracks is an important part of New Jersey’s economic future,” said Senator Sarlo. “By providing these subsidies, we are ensuring that both horseracing and horse breeding continue to thrive and are supporting thousands of jobs in our state.”

“New Jersey’s horse racing industry has created tens of thousands of in-state jobs and has led to the preservation of more than 175,000 acres of farmland and open space,” said Senator Oroho. “The entire Garden State will benefit from the economic activity and revenue generated as a result of this bipartisan effort. I look forward to watching New Jersey horse racing regain its premier status in the industry.”

“I’d like to thank Governor Murphy for recognizing the critical importance of the horse racing industry in New Jersey, particularly because the industry was ignored during the previous administration putting it on the brink of extinction,” said Assemblyman Burzichelli. “The subsidies provided by this new law will pay huge dividends in terms of horse farm preservation and the job creation and retention related to horse racing. I have no doubt this effort will help spur our economy.” 

“I applaud the signing of this legislation,” said Assemblywoman Downey. “It’s the funding boost Monmouth Park and the horse racing industry needs at this time to attract customers and talent. It’s an opportunity for the industry to get back on track.”

“This will help to reinvigorate the New Jersey horse racing industry and Monmouth Park,” said Assemblyman Houghtaling. “Job creation, support for horse farms and the opportunity to place New Jersey back on top as a leader in the industry-- this is a win for the industry and for the economy.”

“This legislation represents a new frontier, a new hope for both standardbred and thoroughbred horsemen and many affiliated industries in New Jersey,” said Mike Gulotta, Treasurer of the NJ Standardbred Breeders & Owners Association. “For the last 10 years New Jersey has fallen behind New York, Pennsylvania, and others due to the uncompetitive environment in which we found ourselves. This legislation will create jobs and renew interest and investment in New Jersey, specifically in farm lands. It will prove to be a great investment by the state.”

“The New Jersey thoroughbred horse racing and breeding industry is extremely excited and thankful Governor Murphy signed into law the purse subsidy legislation,” said Dennis Drazin, Chairman & CEO of Monmouth Park Racetrack. “This effort to help racing and breeding in New Jersey has always been a high priority for Governor Murphy to help a struggling industry that supports 13,000 jobs and helps preserve 176,000 acres of land dedicated to preservation and open space. In addition to Governor Murphy we would like to thank leadership and all legislators that helped make today possible. As a result of today’s action, horse racing in New Jersey will survive and prosper.”

TRENTON – Governor Phil Murphy today signed S2992 into law, which appropriates $20 million to the New Jersey Racing Commission for horse racing purse subsidies for this fiscal year, with all future appropriations subject to the budget. This funding will be allocated by the New Jersey Racing Commission equally between the thoroughbred industry and the standardbred industry.  

“New Jersey’s horse racing industry is a key economic engine, supporting thousands of jobs and attracting tourists and fans from around the world,” said Governor Murphy. “Our state has a long and proud history of horse racing and we must recapture our competitive edge in the industry. With this funding, New Jersey can continue to offer one of the most exciting horse racing experiences in the nation, while also providing a boost to an industry that is integral to our economy.”

All of the funds allocated to the thoroughbred industry will be allocated to Monmouth Park overnight purses. Of the funds allocated to the standardbred industry, 60 percent will be allocated to Meadowlands overnight purses, 16 percent to Freehold overnight purses, 12 percent to the New Jersey Sire Stakes purses, 6 percent to purse bonuses for New Jersey sired horses, and 6 percent for breeders awards purses. The legislation also requires the recipient of any funds appropriated to file an annual report with the New Jersey Racing Commission that documents the purposes for which those funds were used and the amounts allocated for those purposes. 

Primary sponsors of the bill include Senators Vin Gopal, Paul A. Sarlo, and Steven Oroho; and Assemblymembers John J. Burzichelli, Eric Houghtaling, Joann Downey, and Ronald S. Dancer.

“This support is vital to the horse racing industry. It is an important part of New Jersey’s heritage and culture and a key economic driver, especially here in Monmouth County,” said Senator Gopal. “With tens of thousands of jobs impacted, directly and indirectly, I am commend the Governor, the Senate and the Assembly for their bipartisan leadership on this issue." 

“The success of our racetracks is an important part of New Jersey’s economic future,” said Senator Sarlo. “By providing these subsidies, we are ensuring that both horseracing and horse breeding continue to thrive and are supporting thousands of jobs in our state.”

“New Jersey’s horse racing industry has created tens of thousands of in-state jobs and has led to the preservation of more than 175,000 acres of farmland and open space,” said Senator Oroho. “The entire Garden State will benefit from the economic activity and revenue generated as a result of this bipartisan effort. I look forward to watching New Jersey horse racing regain its premier status in the industry.”

“I’d like to thank Governor Murphy for recognizing the critical importance of the horse racing industry in New Jersey, particularly because the industry was ignored during the previous administration putting it on the brink of extinction,” said Assemblyman Burzichelli. “The subsidies provided by this new law will pay huge dividends in terms of horse farm preservation and the job creation and retention related to horse racing. I have no doubt this effort will help spur our economy.” 

“I applaud the signing of this legislation,” said Assemblywoman Downey. “It’s the funding boost Monmouth Park and the horse racing industry needs at this time to attract customers and talent. It’s an opportunity for the industry to get back on track.”

“This will help to reinvigorate the New Jersey horse racing industry and Monmouth Park,” said Assemblyman Houghtaling. “Job creation, support for horse farms and the opportunity to place New Jersey back on top as a leader in the industry-- this is a win for the industry and for the economy.”

“This legislation represents a new frontier, a new hope for both standardbred and thoroughbred horsemen and many affiliated industries in New Jersey,” said Mike Gulotta, Treasurer of the NJ Standardbred Breeders & Owners Association. “For the last 10 years New Jersey has fallen behind New York, Pennsylvania, and others due to the uncompetitive environment in which we found ourselves. This legislation will create jobs and renew interest and investment in New Jersey, specifically in farm lands. It will prove to be a great investment by the state.”

“The New Jersey thoroughbred horse racing and breeding industry is extremely excited and thankful Governor Murphy signed into law the purse subsidy legislation,” said Dennis Drazin, Chairman & CEO of Monmouth Park Racetrack. “This effort to help racing and breeding in New Jersey has always been a high priority for Governor Murphy to help a struggling industry that supports 13,000 jobs and helps preserve 176,000 acres of land dedicated to preservation and open space. In addition to Governor Murphy we would like to thank leadership and all legislators that helped make today possible. As a result of today’s action, horse racing in New Jersey will survive and prosper.”