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Will the new revamped Meadowlands grandstand be ready for 2013? The harness track's new operator Jeffrey Gural feels he would have to be "real lucky" to have funding in place
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On Tuesday, the New Jersey Racing Commission approved a provisional permit for New Meadowlands Racetrack LLC, headed by Gural, to operate the Meadowlands Racetrack in 2012.
The commission voted unanimously to grant New Meadowlands Racetrack LLC the permit during a meeting at Monmouth Park. Gural told the commission he expects to sign a 30-year lease agreement for the racetrack with the New Jersey Sports and Exposition Authority on December 31. The commission provided until January 5, 2012 to complete the lease deal.
Frank Zanzuccki, the racing commission’s executive director, said the final permit would be issued when all conditions were met and the parties indicated the deal was closed. The Meadowlands is scheduled to open Jan. 6 for live racing.
Gural attended the meeting and gave the commission an overview his plans to construct a new grandstand on what currently is the backstretch at the Meadowlands. The three-story facility would have outdoor seating for 2,000 people, a simulcast area, food court, sports bar with rooftop terrace (and view of the Manhattan skyline), tiered dining room and an owners club.
Entrances for the harness racing and simulcast areas would be separate. Gural said the track would seek food vendors, such as Shake Shack, that appeal to younger patrons.
“I think if I can build that new building, we’ll surprise a lot of people and we’ll be able to get people back to the racetrack,” Gural said. “Initially, I’m going to try some marketing things, but I think it’s still going to be a struggle because the old building is obsolete.”
Gural hoped to have the new grandstand ready in time for the 2013 racing season, but said Tuesday he would need to get “real lucky” to meet that goal. Total costs for the project are estimated at $100 million, of which Gural has raised approximately $35 million. He said he needed another $25 million to move forward.
“The earliest would could start anyway would be the spring, so if between now and the spring I can raise the money, we’ll start,” Gural said. “If not, we’ll sit tight. It might be easier to raise the money once we’re up and running and we can show people what our operating costs are. Until then, we’re just guessing at what we can do.”
Gural said work to bank the racetrack’s turns was completed, at a cost of $250,000. The hope is the new turns will make racing more competitive.
“It should enable horses to come from behind a little easier,” Gural said.
Gural gave thanks to Gov. Chris Christie and his office for their support of the project, as well as State Senate President Stephen Sweeney and the NJSEA.
“I hope people recognize that this wouldn’t have happened without everybody pulling together,” he said. “They did a good job.”
(with files from HRC)