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New Jersey Extends Deadline For Uncashed Pari-Mutuel Tickets

Bettors who were unable to cash outstanding pari-mutuel tickets and vouchers last year due to the COVID-19 health crisis now have additional time to do so under a bill enacted by the New Jersey State Legislature.

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.

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New Jersey Lawmakers Cut Only 25 Percent Of Purse Subsidy For 2021 Racing Season

Though the initial budget proposal floated by New Jersey Gov. Phil Murphy cut the state's entire $20 million horse racing subsidy, the budget passed on Tuesday by state lawmakers reduced the subsidy by only $5 million. According to the Thoroughbred Daily News, the 2021 racing season will have a purse subsidy of $15 million, to be split evenly between Thoroughbreds and Standardbreds.

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.

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New Jersey: Proposed Budget Cuts $20 Million From Annual Purse Subsidy

Owing to revenue loss caused by the coronavirus pandemic, New Jersey Gov. Phil Murphy's proposed budget released on Wednesday includes multiple spending cuts. According to njonlinegambling.com, one of those cuts is to the annual horse racing purse subsidy that became law in February of 2019, in the amount of $20 million.

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.

Commission Approves Monmouth’s Request To Pay Purses Before Post-Race Results Come Back

Purses at Monmouth Park haven't been paid out for nearly the entire meet, which began on July 3, due to logjams at the Truesdail laboratory in California which have delayed the analysis of post-race tests. On Monday, Darby Development chairman and CEO Dennis Drazin told drf.com that the New Jersey Racing Commission had approved a request for Monmouth to pay out purses on races at least 11 days old, even without the post-race test results.

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.