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Casinos, tracks reach three-year subsidy agreement

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March 04, 2008 Send To A Friend  | Print View

Published reports state an agreement has been reached in New Jersey that will provide $90 million in purse supplements over the next three years to the state’s racetracks from the Atlantic City casinos. A story in Tuesday’s Asbury Park Press said purses at Freehold Raceway—which has recently decreased its purses—will go back up.

The agreement also keeps the racetracks from seeking to add video lottery terminals at the tracks over the next three years.

In a press statement, Governor Jon Corzine said, “Both the equine industry and the casino industry play important roles in New Jersey, from preserving open space to attracting visitors, and it was essential to strike a balance that will allow both industries to thrive.”


 


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