Monmouth’s Success Augers Well For New Jersey Racing

[fasteddy]

MANALAPAN, NJ – May 24, 2010 – Nearly $16.5 million in betting on the opening weekend of the Summer Elite Meet at Monmouth Park could well fuel enthusiasm for a horse racing renaissance in New Jersey.

“All of us in racing are rooting for the success of the $50 million Summer Elite Meet at Monmouth Park,” said Tom Luchento, president of the Standardbred Breeders & Owners Association [SBOANJ]. “The good buzz that permeates Monmouth Park is something that helps all horsemen whether we are in standardbred racing or thoroughbred racing. Confidence in both of our industries is what will make our stock rise with the betting public and the legislators.”

Monmouth Park opened its 50-day/ $50 million summer season on Saturday, May 22, drawing a crowd of 17,903, which was up 74 percent over opening day of 2009. The $9,357,444 wagered on the 13-race card was the highest handle ever for a non-Haskell Day or Breeders’ Cup program.

Despite dismal weather on Sunday, another 8,500 turned out. Betting hit $7,046,389, which represented a 126 percent increase over the first Sunday of the 2009 meet.

“We congratulate CEO Dennis Robinson, Racing Commission Chairman Dennis Drazin, General Manager Bob Kulina and the staff at Monmouth Park for a remarkable opening weekend,” Luchento noted. “If the early momentum can be maintained, the business model of fewer racing dates with record-setting purse levels will be something we all should consider.”

Monmouth’s Summer Elite Meet will offer an unprecedented average daily purse distribution of $1 million or $50 million for the 50 programs.

In the bill signed into law by Governor Chris Christie on Saturday in the Monmouth Park winner’s circle, a series of steps were taken to aide in the success of the meet, including up to $3 million in support from the SBOANJ to assist with the promotion of racing at the New Jersey Sports & Exposition Authority tracks, the Meadowlands and Monmouth Park.

The bill reduces the minimum number of thoroughbred racing dates to 71 for 2010 -- 50 for the summer meet and another 21 in the fall at a lesser purse level. In turn, there will be no thoroughbred races scheduled this year at the Meadowlands, opening the way for a fall harness meet.

Source: Standardbred Breeders & Owners Association Of New Jersey