An attorney “who advises Monmouth Park” yesterday said that the New Jersey horse track “hopes to take sports bets as soon as Sunday, if it can prepare in time,” according to Derek Harper of the PRESS OF ATLANTIC CITY. Attorney Dennis Drazin said that the track was “‘flooded with calls’ following the governor’s announcement Monday that the state would not prosecute racetracks and casinos that allow patrons to bet on sporting events.” Drazin said that Monmouth “would seek to take sports bets within 30 days.” However, Harper notes Monmouth “may be the only one.” Meanwhile, Gov. Chris Christie yesterday at a press conference said that the state “would have no role in either taxing or regulating” sports books. Christie also said that “he would neither encourage nor discourage casinos and racetracks from getting into the business” (PRESS OF ATLANTIC CITY, 9/10).
NOT SO FAST: New Meadowlands Racetrack Owner Jeff Gural, whose facility sits adjacent to MetLife Stadium, said that “he has no plans to get into sports betting anytime soon.” Gural said, "I’m not going to do anything until the courts rule. And I don’t intend to be the guinea pig who is going to force that rule. I’m just watching and waiting.” However, in Newark, Claude Brodesser-Akner notes it is “not that Gural doesn’t think it would be great for his business.” Gural: “I have a spectacular sport bar here. But I’m not looking to go to war with the sports teams -- I have a very good relationship with them. There’s nothing to do but let it play out." Brodesser-Aknar notes the state’s "only other horseracing venue, Freehold Raceway, isn’t likely to pursue sports betting either.” The “boon that sports betting will be to Monmouth Park cannot be overstated.” Drazin said that the track “currently operates just 71 days out of the year, and loses” $4.5M annually. The track would “finally have options -- to double its racing season to 140 days and … offer ever bigger and more exciting stakes and races” (Newark STAR-LEDGER, 9/10). The AP’s Geoff Mulvihill notes some are "unconvinced sports betting can make a significant dent in Atlantic City's casino downturn.” Fitch Ratings, “which last week downgraded New Jersey's credit rating for the second time this year, doesn't consider it a panacea for the seaside resort” (AP, 9/9).
