Senator Jennifer Beck, (R-12), issued the following statement regarding the preservation of New Jersey’s horse racing industry today following a meeting of the Senate Wagering, Tourism & Historic Preservation Committee.
“The plain fact of the matter is that the horse racing industry in New Jersey is in serious jeopardy. An agreement with Atlantic City’s casinos that supplemented purses at our race tracks expired in 2007 and no subsequent agreement has been reached.
“Dennis Robinson, the President of the New Jersey Sports and Exposition Authority, testified before the Senate Wagering Committee today that there is an immediate crisis in the horse racing industry. He also stated that securing the future of the horse racing industry in this state requires a long term solution.
“I agree, the horse racing industry cannot expand and move forward when it is lurching from one temporary agreement to another. To protect the long term future of the horse racing industry in this state we must identify stable recurring revenues to enhance our purses and regain our competitive edge.
“I have been in conversations with Senate President Codey and Senator Sarlo to see if Video Lottery Terminals (VLTs) legislation can be put on the fast track. VLTs will provide the stable source of funding that will allow our horse racing industry to survive and prosper far into the future.”
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