Meadowlands President Jeff Gural spoke about losing money, “Even though we spent over $100 million to build a beautiful new facility which caters to owners, it has not resulted in drawing people, even horse people, to come to the track.
“The reality is that for us to continue to conduct a 90-day harness racing meet, The Meadowlands, like all the other harness tracks in the Northeast, needs the revenue a casino generates to help fund purses and operating costs.
“Every year our main competitor, Yonkers, receives $50 million for purses while Pocono and Harrah’s Philly each get around $30 million in ancillary revenue from gaming. Without casino revenue, we receive only a $6 million grant from the state and unlike the other tracks, we share our sports betting revenue with the horsemen.
“The truth is harness racing only exists in NJ because I continue to underwrite the losses in the hope of getting a casino and making my investment pay off but I'm not getting any younger and our customers are continuing to die off which weakens our case each year."