According to an article by the South Bergenite, the Meadowlands Racetrack experienced an $8.5 million operating loss in 2008. Projections indicate

that the New Jersey track will carry a $9.99 million operating loss for 2009.

As reported late last week, NJ governor John Corzine announced the creation of a study panel with the mandate of identifying, assessing, and recommending possible funding solutions for horse racing meets after 2010. The panel would also be saddled with the task of proposing long-term funding solutions that will promote the future sustained viability of the NJ horse racing industry.

"The horse racing industry plays an important role in New Jersey, from preserving open space to attracting visitors to our state," Corzine said via statement. "I have named representatives from the horse racing and casino industries to this commission because it is essential for the gaming industry to work together to find a…solution that will allow both racing and casino gaming to thrive in New Jersey."

To read the South Bergenite article in its entirety, click here.

(With files from South Bergenite)