GURALS HANDOUT SUBSIDY IN JEOPARDY

[Buffy the Vampire Slayer]

If the goal is to increase the horse population , the money should be put into breeders awards. It is the greatest incentive to breed horses that there is! Nothing would be more effective.

That's more long term.  And there are already awards.  They would have to pass new legislation, etc., etc., etc.  Definitely long term.

How is Jewffrey going to pass the audit next year and most of all, in 2020, an election year?  By 2020 the have-nots will be rioting in the streets while Jewffrey and his fellow heeb Howard Schultz are having espressos in the Bus Station.  I just don't see how Jewffrey weasels out of this audit.  Until next time, sweeties......... .......HEIL HITLER!!

[augustaandy]

heard he has the votes

[LUCPARK]

 

[augustaandy]

Meadowlands, back to nicer purses!

[Equus Caballus]

Governor expected to sign immediately

The BIG M is back

[Buffy the Vampire Slayer]

Freehold has 76 race cards in 2019.
Divide that into $1,600,00 and you get over $21,000 more per card, or $1,800 per race.
That’s a 40 to 50% increase in purse per race.
Nick will be happy.

Meadowlands has about the same # of races as Freehold, so that will add about $78,000 more per card, or about $6,500 per race.

provide that the Legislature may choose not to appropriate the amounts provided by the bill if it determines, based on a review of the reports filed, that receipt of these funds has not substantially improved the racing industry in New Jersey;

Off Ramp will be watching and posting those handle reports as we move forward.  No amount of heeb bullshit or lying will save Jewffrey if he can't show that the welfare money has improved the product.  Until next time, laddies.......... ...HEIL HITLER!!

[NJ The best]

Surick is well positioned to take all the freehold subsidies

[horses first]

So the 20mln hand out for horse racing comes with some issues. One is it's not a 5 year deal more like it's a year by year deal. That the industry needs to show or prove the subsidy is actually working. How by handle Gural mentions and mentions it's likely handle will need to increase to 400k a night. Good luck with that. More free rebates for cartels? Which doesn't help the purse account. So the 20mln is split 6mln to Big M, 1.6m to Freehold, and assume the balance goes to thoroughbreds. So Gural said this was much needed to STAY OPEN AND OPERATING. Ok.. Also says a couple things on breeding and fields but also says that it brings back Meadowlands racing and purses. My question is if purses have sucked for years. That Gural has SAID he has taken 5M a year from his pockets to help fund purses. How the fuck is 6m going to add any change what so ever to bring purses back? I know they get another 1.0m from sports wagering. I would imagine that the state sire races will get a injection of cash flow and overnights really going to change that much to compete with Yonkers and PA? I doubt it. Also the 5m Gural says he shells out just a line of BS? I suppose we will see down the road on purse structure.

[Larrylou32]

He is losing money just ask him

I agree. Show us you need the cash

[NJ The best]

Freehold definitely needs it there horses are bone thin from lack of hay and oats.

[Superfecta]

If M1 purses get a bump of 4-5k per race due to subsidy, Yonkers is in a whole lot of trouble. Better horses will start showing up at M1 and the 3 mill they wagered Saturday will be closer to 4 mill as the warmer weather creeps in. MGM is not going to sit idly by and hand out huge purses when handle/interest will be equal to Monticello, as MGM is run more like a corporation, unlike Rooney who has/had roots in harness racing. When current YR contract expires in 2 years, shit is going to hit the fan.

Tell Joe to turn off the lights on his way out.

[Atthetrack7]

Op-Ed: NJ Horseracing Doesn’t Need State Subsidies, It Needs to Innovate



Phil Logrippo | February 4, 2019

Why would New Jersey subsidize wealthy thoroughbred racehorse owners and people who can afford to gamble on horses?

Phil Logrippo
Phil Logrippo

When you think of government subsidies, what comes to mind? Is it families struggling to heat their homes in the winter, or food stamps for the poor? How about a subsidy to increase gambling purses? Well, that is what the New Jersey State House did on Thursday with bill A-4810.

The measure will provide New Jersey horseracing tracks with $100 million over five years. With New Jersey losing population and ranking #48 in fiscal condition, we cannot afford to subsidize wealthy thoroughbred racehorse owners and people who can afford to gamble on horses. Gov. Phil Murphy recently allocated $20.6 million to expand existing preschool programs. Couldn’t the case be made for using the $20 million allocated for horseracing to further support early childhood education?

The recent state audit released results which showed that the state lacked processes to make sure companies actually created or retained the jobs that were promised as part of taxpayer-funded corporate subsidies.

The measure passed by the legislators requires the recipient of the subsidy to track and file a report on the following metrics: amount of bets, number of horses in the races, number of New Jersey-bred horses in the races, number of New Jersey-bred horses winning races, number of New Jersey broodmares and New Jersey-bred foals born, as well as the New Jersey Sire Stakes Program. None of these metrics directly track job growth or the associated economic impact of the legislation. So the lawmakers in Trenton are making the same mistake again.

If the goal is to increase or maintain farmland dedicated to horse farms and the associated farmhand jobs, then those are the specific metrics which should be measured. It is necessary to measure the desired outcome; otherwise these are just metrics for recordkeeping’s sake.

New business model?

The race tracks previously received subsidies, but instead of being taxpayer funded, they came from casino revenue. Meanwhile horseracing’s popularity continues to decline from 4 percent in 1985 to 1 percent in 2015, according to the Harris Poll. Nationwide, gross horseracing purses have declined over the last five years, according to the Jockey Club. The whole industry is shrinking and this is not the time to prop it up with taxpayer money.

With sports gambling recently legalized, now is the time for the industry to get a boost from sports betting. Recent investments at the Monmouth and Meadowlands Sportsbooks by William Hill and Fan Duel show that they are poised to grow and reap in revenue from sports betting. There’s no doubt, the industry needs to re-evaluate its business model. Now is the time to innovate for the 21st century, find new sources of revenue, and become self-sustaining.

[Poker King]

If M1 purses get a bump of 4-5k per race due to subsidy, Yonkers is in a whole lot of trouble. Better horses will start showing up at M1 and the 3 mill they wagered Saturday will be closer to 4 mill as the warmer weather creeps in. MGM is not going to sit idly by and hand out huge purses when handle/interest will be equal to Monticello, as MGM is run more like a corporation, unlike Rooney who has/had roots in harness racing. When current YR contract expires in 2 years, shit is going to hit the fan.

The problem will be a lot of beards showing up because there are so many trainers barred from M1 that it will be a merry go round of trainers showing up with those horses. Someone already pointed out that Peter Stratton is fronting for Eckley and Carl Conte is in Florida working for Josh Marks. Easy pickins!!

[bond]

There is zero net positive gain from the subsidies. You cannot find any non-industry funded study that says so. Same thing goes for municipalities that fund stadiums--they will never get a positive return on that initial cost. Subsidies almost never work as a positive economic stimuli.

imho-THE SUBSIDIES are  an economic stimulus to encourage the development of better racing in NJ.
I guess you didnt read the part where there is a clause in the deal that if this subsidy does not have this desired effect-it will be terminated and racing will have to find another avenue to improve its product. Its a good thing for NJ racing- lets hope they use this money very wisely-then it will have a positive effect long term.

[The Exporter]

If M1 purses get a bump of 4-5k per race due to subsidy, Yonkers is in a whole lot of trouble. Better horses will start showing up at M1 and the 3 mill they wagered Saturday will be closer to 4 mill as the warmer weather creeps in. MGM is not going to sit idly by and hand out huge purses when handle/interest will be equal to Monticello, as MGM is run more like a corporation, unlike Rooney who has/had roots in harness racing. When current YR contract expires in 2 years, shit is going to hit the fan.

I need to see one shred of evidence higher purses drive greater handle. There is 15 years of data available. There was also the Monmouth Park experiment about 10 years ago. The truth is greater purses have zero influence on handle. Also, didn't Yonkers and NYSBOA, extend the horsemens contract by 5 years just before MGM filed their letter of intent to purchase Yonkers?