The Standardbred Breeders & Owners Association of New Jersey has adopted a formal resolution in support of efforts by NJ State Senator Raymond J. Lesniak (D-20) to legalize sports wagering at racetracks.

The resolution pledges the SBOANJ's active support of appropriate legal and policy measures to legalize sports wagering in those states where it currently is prohibited. Senator Lesniak has been an outspoken proponent of seeking a change in federal law or legal action in court to overturn the federal law that prohibits it in 45 states, including New Jersey.

The SBOANJ, twice earlier this year before State Senate and Assembly Committees, supported New Jersey legislation for a referendum on the issue. That legislation would, if the federal ban were overturned, allow sports wagering at racetracks and casinos.

The SBOANJ Resolution:

Whereas, the racing industry in New Jersey requires at least $30 million a year in annual subsidy from the casino industry to keep the tracks competitive.

Whereas, this annual infusion of funds does little to revitalize the industry and attract new fans.

Whereas, the horse racing industry has significant economic and environmental importance in the Garden State.

Whereas, New Jersey's horse racing industry generates $1.5 billion in economic activity and creates 13,000 jobs.

Whereas, 142,000 acres of open space and farmland throughout the Garden State support horses and equine activities.

Whereas, the legalization of professional sports betting can serve to revitalize the horse racing industry by attracting tourism and opening new revenue streams.

Be It Resolved:

That the Standardbred Breeders and Owners Association of NJ will actively support efforts to revitalize the horse racing industry through the legalization of professional sports betting.

Be it Further Resolved, that the SBOA NJ will actively support appropriate legal and policy measures to legalize professional sports betting in New Jersey.

Be it Further Resolved, that the SBOA NJ will support appropriate legal and policy measures to legalize professional sports betting in the 45 states where it is currently banned.

(SBOANJ)