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Monmouth Park is on its Way to Success

May 12, 2015 - by Bori
monmouth park racetrack

Horseracing is money

Monmouth Park is a historical racetrack in New Jersey. After a change of directory the Shore track has seen an increase of revenues. However to continue on the path to success it would be necessary for the gambling regulations in the state to change. The allowance of gambling would not only be beneficial to the horseracing industry but it would increase the tax income of the whole state.

NJ.com: Why Monmouth Park officials believe outlook for N.J. horse racing industry is brighter than ever

Dennis Drazin an advisor of the New Jersey Thoroughbred Horsemen’s Association sees the horseracing of New Jersey as a good investment. Being the official management consultant of the Monmouth Park racetrack he is very much involved in all decisions made. From the order of events on the Opening Day to the season long advertising decisions.

This weekend is the start of the racetrack’s 70th season and it is more popular every day. Drazin told gambling news that Four years after the New Jersey Sports and Exposition Authority gave its approval for the NJTHA to operate Monmouth Park the track has already brought profit.
“Coming in on heels of having two straight years of better attendance and increased handle, I think we’re going to have a very strong season and I’m looking forward to being able to offer world-class racing at Monmouth Park,” were his words regarding the upcoming season.
Lobbyists are trying harder than ever to bring legal sports betting to racetracks and casinos in New Jersey. However the ruling will be announced at the end of May, the earliest. Drazin said that their goal is to be able to offer real sports betting in time for the football season this year.

NorthJerset.com: Horse racing: Monmouth Park opens Saturday, awaits ruling on sports betting

With 70 years behind its back Monmouth Park is standing strong in a dying business. This weekend’s opening day is just as feared by the owners as it is awaited. Although it seems like nothing could stand in the way of Monmouth Park’s success, in the world of thoroughbred racing there are no shortcuts and it is hard to stay in the game.
This is the fourth season of the racetrack with the New Jersey Horsemen’s Association in charge. As much as the change of directory seems to be guiding the Shore track toward success it gives a good reason to think about the future. The marvelous improvements in just these short few years suggest a great increase in the following years.

A crucial part to embracing the horseracing scene in New Jersey would be to change current gambling laws in the state. The U.S. Court of Appeals is expected to make a decision by the end of June, the latest. The Third Circuit ruling about the future of sports betting in Jersey could be business changing for the whole industry.
While waiting for the decision to be made man Monmouth is improving itself. Their team of trainers was joined by Gerald Bennett who ranks second in the Tampa Bay Downs trainer standings. Joe Bravo who is returning after a season in New York said; “There’s no place like Monmouth.”

USA Today: Monmouth Park close to breaking even fiscally

The positivity of the operators of the New Jersey shore thoroughbred racetrack is very reassuring. According to latest gambling news their expectation for Monmouth Park to either break even or to make a profit is based on the last three years books. Dennis Drazin made it clear at the he track’s season opening news conference that the best years are just ahead of them.

Although gambling is a rising industry the regulations in the state of New Jersey don’t allow it to increase. Raymond Lesniak who had been lobbying for the legislation of gambling said this might be the last push. He expects help from Senate President Steve Sweeney, Assembly Speaker Vincent Prieto and Republican Gov. Chris Christie in order for a positive decision to be made this year.
“I hope they understand we are losing hundreds of millions of dollars to other states by not having casinos in north Jersey and that some of those revenues can be reinvested in Atlantic City and our racetracks to keep both of those industries from withering on the vine because that’s what is happening now,” Lesniak said.
He also said that if the bill passed in November it would still take at least two years for casinos to open in the northern side of the state. The reason for such delay is that the legislature would have to write new regulations and prize sites. The encouragement of sports trading clubs and other gambling related activities could help the state to a higher income.

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