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NJ Racing To Be Weaned Off $30M Payment?

Published: December 8, 2010 2:39 pm ET

Last Comment: December 8, 2010 8:21 pm ET | 2 Comment(s) | Jump to Comments

According to a report, an amendment to legislation in New Jersey would see the state racing industry weaned off the $30 million payment which it annually received from casino interests in order to not pursue expanded gaming at racetracks.

An article on pressofatlanticcity.com explains that the original bill would have seen the $30 million -- which would not have to be paid to the racing industry -- earmarked for the creation of a new Atlantic City tourism district. The district will encompass the city’s busiest areas and include new management to improve safety, cleanliness and marketing.

The report states that the amendment to the legislation would see the New Jersey Racing Commission receive a total of $30 million over a three-year period after the legislation is enacted. The racing commission would receive the first $15 million in deregulation savings, then $10 million in the following full fiscal year and $5 million the next year. Funds would then cease to flow to the racing industry by 2014. The remaining savings would go to the operation of the tourism district.

The article explains that the original bill's sponsor, Senator Jim Whelan, has removed his name from the legislation and that the new version of the bill has caused 'some dissent' within the ranks within the state's Democratic Party.

(With files from pressofatlanticcity.com)

December 8, 2010 - 8:21 pmWean off

Dan Davis SAID...

Wean off subsidies....lol....have you not noticed the handles at the Ontario B Tracks...
pulling off subsidies would be like pulling the plug on a life support machine!!!!

December 8, 2010 - 5:02 pmThis is/should be a wakeup

This is/should be a wakeup call for every other sector in the racing industry. The Politicos know that 99% of people want any form of "subsidies" that racing receives used elswhere. The industry must self wean itself off subsidies before it is too late!


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