"What they want to do is to try and stomp out the horse racing business. As soon as we were done for, they'd move right up there (Northern New Jersey). It's clear that if we weren't in their way, they would move in."

Those are the words of Standardbred Breeders & Owners Association of New Jersey President Tom Luchento. His words come in light of comments made by New Jersey Senator James Whelan.

According to an article on businessweek.com, Whelan, a former Mayor of Atlantic City, recently made a call for the end of the $30-million annual subsidy payments Atlantic City casinos make to state racetracks to keep expanded casino gaming out of the live racing establishments.

Whelan refers to the payments as "propping up" the state horse racing industry. He says the subsidy should end, even if it means the end of horse racing in New Jersey.

"That's what happens in a capitalist society," Whelan was quoted as saying. "If there's no demand for a product, why should we as an industry and as a society feel obligated to prop it up?"

The article cites Luchento as saying that the New Jersey horse racing industry is a $1 billion-a-year industry.

"How can you turn down a $1 billion a year?" Luchento said. "I understand that the average guy in Newark doesn't care whether there is horse racing in New Jersey. But he does care that his property tax goes down."

(With files from businessweek.com)