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Harness Racing / Re: Biggest Thursday card in years at the Meadowlands and 12 races!
« Last post by Trigger on December 04, 2025, 11:21:42 PM »The Meadowlands Racetrack 
"The Meadowlands Racetrack
does not make a profit from its horse racing operations alone; it operates at a significant loss and requires substantial state subsidies and revenue from sports betting to cover operating costs and purses. The owner has explicitly stated the venue is not profitable on its own.
Financial Realities
Operating Losses: The racetrack consistently incurs losses from its core racing business. In 2024, an additional $11.5 million from sports betting revenue was used to cover these operating losses.
State Subsidies: The Meadowlands, along with Monmouth Park, relies heavily on an annual pool of $20 million in state taxpayer money designated to subsidize horse racing purses. The owner, Jeff Gural, has indicated they "couldn't survive" without this state aid. (Welfare Billionaire Jeff
)
Declining Revenue: Handle (total money wagered) on horse racing has been in decline for years, making it harder for the revenue generated to sustain current purse levels or operational expenses.
Sports Betting Revenue: The partnership with FanDuel for sports betting provides crucial ancillary revenue. A portion of this revenue is mandated to go towards purses, and the remainder helps cover the operational shortfall.
Future Uncertainty: The current subsidies are set to continue through 2029, but the owner has emphasized the need for a casino license at the Meadowlands for the long-term survival of the racetrack and the sport in New Jersey.
In essence, the Meadowlands complex generates significant overall tax revenue for the state of New Jersey, but the racetrack division itself requires external funding to remain operational."
"The Meadowlands Racetrack
does not make a profit from its horse racing operations alone; it operates at a significant loss and requires substantial state subsidies and revenue from sports betting to cover operating costs and purses. The owner has explicitly stated the venue is not profitable on its own.
Financial Realities
Operating Losses: The racetrack consistently incurs losses from its core racing business. In 2024, an additional $11.5 million from sports betting revenue was used to cover these operating losses.
State Subsidies: The Meadowlands, along with Monmouth Park, relies heavily on an annual pool of $20 million in state taxpayer money designated to subsidize horse racing purses. The owner, Jeff Gural, has indicated they "couldn't survive" without this state aid. (Welfare Billionaire Jeff
)Declining Revenue: Handle (total money wagered) on horse racing has been in decline for years, making it harder for the revenue generated to sustain current purse levels or operational expenses.
Sports Betting Revenue: The partnership with FanDuel for sports betting provides crucial ancillary revenue. A portion of this revenue is mandated to go towards purses, and the remainder helps cover the operational shortfall.
Future Uncertainty: The current subsidies are set to continue through 2029, but the owner has emphasized the need for a casino license at the Meadowlands for the long-term survival of the racetrack and the sport in New Jersey.
In essence, the Meadowlands complex generates significant overall tax revenue for the state of New Jersey, but the racetrack division itself requires external funding to remain operational."
