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SBOANJ responds to subsidy agreement

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March 05, 2008

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Purse levels in New Jersey were bolstered for the next three years by a decision announced in Trenton late Monday afternoon, but the future of horse racing in the state cannot be ensured without a stable source of funding, the Standardbred Breeders & Owners Association of New Jersey (SBOANJ) said.

New Jersey Governor Jon S. Corzine issued a statement on March 3 in which he said that an agreement had been reached for a purse supplement of $90 million which will be distributed over the next three years. In return for the funding, video lottery terminals (VLTs) would be banned from the racetracks for three years.

"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," Corzine said. "The agreement involves no taxpayer dollars and will not reduce casino funds that flow to the state."

�It was a bittersweet victory,� said SBOANJ president Tom Luchento. �While the standardbred horsemen of New Jersey are grateful for the funding which will allow the state�s tracks to maintain their purse levels for the next three years, this agreement is only a stopgap measure. There are also many details to be worked out as far as the distribution of the supplement.

�For the future of the racing and breeding industries in New Jersey, we need to find a permanent solution in the form of other types of gaming at the racetracks so that we can exist on a level playing field with the tracks in the surrounding states�New York, Pennsylvania and Delaware�which already have VLTs or slots,� he said.

�I want to thank the trainers, drivers, breeders, owners and caretakers for their patience, support and understanding as we worked to obtain this agreement,� he noted. �It took a lot longer than it should have, and we still have a great deal of work to do.

�We want the New Jersey Sire Stakes Program to be better funded and, to that end, have initiated legislation in Trenton to do so,� Luchento explained. �However, there is a rather bleak fiscal picture in Trenton. The Governor has proposed cuts in spending and of three departments, including agriculture. So this is an even more difficult task.

�We thank the legislators and the Governor�s office for their mediation in this matter,� Luchento noted.

�We thank Senate President Richard Codey, who has always championed the horse racing industry's cause; Senators Beck and Sarlo, who have racetracks in their districts; Senator Whelan, who supported the subsidy whenever he talked to casino operators in his Atlantic City district; Assembly Speaker Joe Roberts for his leadership role; Assemblymen Cohen, Malone and Dancer for sponsoring legislation to help fund an appropriation for the New Jersey Sire Stakes, and other legislators too numerous to mention who have been in our corner.� (SBOANJ)

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