A New Jersey Senate committee today passed four bills in attempt to keep the state's horse racing industry afloat. One of the bills would make New Jersey the first state in

the country to legally offer exchange wagering.

A report on northjersey.com explains that the Government, Wagering, Tourism and Historic Preservation Committee approved measures which would see the erection of more off track betting locations in the state; a total of 100 race dates for each the Meadowlands Racetrack and Freehold Raceway; and all pari-mutuel wagering shifted into one betting pool.

The article quotes Senator Richard Codey, sponsor of the exchange wagering bill, as saying, "It's good that we're doing all this, it's good that we're trying to move ahead on these issues. But all of this does not fix the woes of racing in New Jersey. Until and unless we are allowed to have slot machines at our tracks, they won't succeed like their 'brothers' in neighboring states."

(With files from northjersey.com)

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