The money has already been approved for 2024. The extension was to run from 2025 through 2029.

Murphy vetoed 12 bills in all, using what is called a pocket veto. That type of veto applies only to bills sent to the governor's desk in the final 10 days of a legislative session. If the governor does not sign such bills within seven days of the end of a session those bills are vetoed without being sent back to the Legislature.

Murphy's decision came as a major surprise since he has largely supported racing during his time in office and the bill had overwhelming support in the Senate and in the Assembly. It passed the Senate by a 35-1 margin and the Assembly by a 73-0 margin.

The purse subsidy is vital to Monmouth Park, which, without it, would offer far smaller purses and have trouble competing for horses with the many other tracks in the Mid-Atlantic region.

“If we didn't get this money, it would be a disaster,” said Dennis Drazin, the chairman and CEO of Darby Development, the management team that operates Monmouth. “We'd either have to cut days or purses.”

Drazin admits he was alarmed when first hearing news of the veto and he immediately placed a call to Murphy. Drazin said he heard back within 15 minutes and the governor reassured him that future purse subsidies remain very much alive.

“I spoke with him and he wholeheartedly supports the industry, but he did not feel a bill like this should get passed through a lame-duck session,” Drazin said. “He is committed to continue to work on it and get it done through the budget process. I take him at his word. He has been supportive of the industry ever since he's been in office and he says he will get it done, just not the way it was being handled. I trust this governor. He made a commitment and I am taking him at his word. If he had said, 'I'm vetoing it', that's it, we'd be having a different conversation.”

The post NJ Governor Murphy Vetoes Bill To Extend Purse Subsidies Through 2029; Drazin Optimistic Deal Will Still Get Done appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

Australian firm BetMakers has secured an exclusive 10-year agreement with New Jersey Thoroughbred Horsemen Association and Darby Development LLC., the operator of Monmouth Park racetrack, to deliver and manage fixed-odds wagering on Thoroughbred racing in New Jersey. BetMakers expects fixed-odds wagering be operational in time for Haskell Day on July 17.

Takeout on the fixed-odds wagers will 12.5 percent.

BetMakers' head of international operations Dallas Baker said the company hopes to see fixed-odds wagering revitalize the horse racing industry in the United States, increasing both handle and purse accounts, as it has done in Australia.

“Our ultimate goal is to have what happened in Australia over the last 10 years or so and after online betting was deregulated happen here,” Baker told the TDN. “In that time, the handle has doubled and purse money doubled as well. That's what we want to see here, too. The opportunity exists in the U.S. to have that happen here and on a quicker time line than 10 years.”

Read more at the Thoroughbred Daily News.

The post New Jersey: Fixed-Odds Wagering Bill Headed To Governor’s Desk appeared first on Horse Racing News | Paulick Report.

Source of original post

In addition, beginning with the twilight card on Friday, June 11, up to six vaccinated owners will be allowed in the winner's circle. Vaccinated owners will also be permitted in the walking ring starting that day.

Monmouth Park's 53-day meet, which begins Friday, runs through Sept. 26, with racing on Fridays, Saturdays and Sundays from June through the end of August.

The post Monmouth: Vaccinated Owners Will Be Allowed On Backstretch, In Winner’s Circle Starting June 8 appeared first on Horse Racing News | Paulick Report.

Source of original post

The bill now moves onto to the State Senate and if successful would then go to Gov. Phil Murphy for a signature.

Monmouth Park's 76th season gets underway on Friday, May 28.

“This is an exciting new wagering opportunity for our fans and we're grateful for the support from our legislators and Governor Murphy, who continue to ensure the success of Thoroughbred racing in the state,” said Dennis Drazin, CEO and Chairman of Darby Development, LLC, the operators of Monmouth Park. “Our hope is that we can be up and running with Fixed Odds wagering in time for the TVG.com Haskell Stakes on July 17 — or sooner if possible.”

The bill was sponsored by Assemblymen Ralph Caputo and Ronald Dancer.

The Senate version of the bill is sponsored by State Senators Vin Gopal and Paul Sarlo and is co-sponsored by State Senators Steven Oroho and Declan O'Scanlon, Jr.

The bill has also been supported throughout the legislative process by Assembly Speaker Craig Coughlin and Senate President Stephen M. Sweeney.

Fixed Odds wagering allows bettors to retain the odds at the time of their bet, as opposed to pari-mutuel wagering, where odds are not finalized until betting is completed.

The wager has proven to be extremely popular in Australia and Europe. Monmouth Park would become the first track in the United States to offer the wager.

Australia-based BetMakers Technology Group would deliver and manage Fixed Odds wagering at Monmouth Park after entering into an exclusive 10-year agreement with New Jersey Thoroughbred Horsemen's Association and Darby Development, LLC, last year.

Though odds will continue to change as usual as the pari-mutuel pools dictate, bettors have the option of locking into odds at the time of their bet under Fixed Odds wagering.

Monmouth Park's 53-day meet kicks off with four straight days of live racing from Friday through Monday over the Memorial Day weekend May 28-31. Post time on Fridays is 5 p.m. Post time on Saturdays, Sundays and Monday holidays is 12:15 p.m.

The post Fixed Odds Wagering At Monmouth Moves One Step Closer To Reality appeared first on Horse Racing News | Paulick Report.

Source of original post

Bill S3198, which was signed into law by Gov. Phil Murphy, went into effect on May 11. It extends the claiming period for pari-mutuel wagering tickets and vouchers from six months to 12 months from the date of issuance or sale.

The bill was sponsored by State Senators Richard J. Codey and Vin Gopal and Assemblymen Ronald S. Dancer and Ralph R. Caputo.

“We appreciate the continued support that Gov. Murphy and our state legislators have shown for horse racing throughout the state,” said Dennis Drazin, Chairman and CEO of Darby Development, LLC, the operators of Monmouth Park. “This legislation provides a much-needed grace period for people who were unable to cash winning tickets or vouchers due to the impact of COVID-19.”

According to the legislation “winning outstanding pari-mutuel tickets purchased from the beginning of Sept. 16, 2019 and ending on the date of the end of the Public Health Emergency declared by the Governor in Executive Order No. 103 of 2020 and as extended shall be eligible to be claimed and shall be payable during the period ending one year following the end of the Public Health Emergency.”

The extension covers pari-mutuel tickets and vouchers purchased at racetracks, off-track wagering facilities and casino simulcasting facilities throughout the state.

The post New Jersey Extends Deadline For Uncashed Pari-Mutuel Tickets appeared first on Horse Racing News | Paulick Report.

Source of original post

Dennis Drazin, Chairman and CEO of Darby Development, which manages Monmouth Park, said he believes the $5 million difference won't cause purse reductions for the track's 2021 season.

“I am pleased that the Governor has seen fit to give us back 15 of the $20 million that is going to go support purses next year,” Drazin told thoroughbreddailynews.com. “Since it was taken out of the budget, we have worked hard on this and, fortunately, through leadership in the Senate and the Assembly, as well as a lot of our local politicians who supported the effort, the Governor saw fit to put it back in the budget. We would have liked to have had the full $20 million, but given that he is cutting everybody, I am thrilled that the Governor has our back and recognizes the importance of the industry and how important it is to save a lot of jobs and keep us competitive.”

Read more at the Thoroughbred Daily News.

The post New Jersey Lawmakers Cut Only 25 Percent Of Purse Subsidy For 2021 Racing Season appeared first on Horse Racing News | Paulick Report.

Source of original post

The purse subsidy, financed by slot machine revenue, is typically split evenly between Thoroughbred and harness horsemen, affecting Monmouth Park and harness tracks Meadowlands and Freehold.

The 2019 law was approved for $100 million over five years, at $20 million per year.

While 2020's subsidy has already been paid, there is still a lot of negotiating that may be done before the state budget is finalized in late September, so the purse subsidy may be revived for 2021.

Read more at njonlinegambling.com.

The post New Jersey: Proposed Budget Cuts $20 Million From Annual Purse Subsidy appeared first on Horse Racing News | Paulick Report.

Source of original post

New Jersey Gov Phil Murphy still needs to sign the commission's order for the policy to go into effect, but Drazin said he expects the governor to do so within the next 48 hours.

“We're hopeful this will all get expedited, and we think we'll be able to issue those payments starting Wednesday or Thursday,” Drazin told drf.com.

Read more at the Daily Racing Form.

The post Commission Approves Monmouth’s Request To Pay Purses Before Post-Race Results Come Back appeared first on Horse Racing News | Paulick Report.

Source of original post

Monmouth Park, which opens for its 75th season of live racing on Friday, July 3, will be permitted to operate at 25 percent capacity starting July 2. Additional details are forthcoming.

Monmouth Park has been closed to fans since March 16, when restrictions were put into place to slow the spread of the virus.

The 37-day live Monmouth Park meet will run from Friday, July 3, through Sunday, Sept. 27. Post time on Fridays will be 5 p.m. (except for Sept. 4 when it will be 12:50 p.m.). Saturday and Sunday post times will be 12:50 p.m., except Haskell Day on July 18, when the first race goes at noon.

For more information visit www.monmouthpark.com or follow the racetrack on Facebook, Twitter and Instagram.

The post Monmouth Park, William Hill Sports Book Will Reopen To Fans On July 2 appeared first on Horse Racing News | Paulick Report.

Source of original post