Freehold Raceway Closing?

[bello]

i would schedule my college courses as a freshman so that on fridays i could drive to freehold to watch and bet the races--a few liberty bell guys were still around but they faded out


infrequently i would do the freehold/yonkers doubleheaders

later in the late 2000s i would go on saturdays--met some great people

i hope Boyd takes over and invests in the property and keeps racing going--at least a little bit

My guess is we met at Freehold. I would never go to Yonkers. The smell of piss was overwhelming

[Sunmoon 1219]

Supposedly the meeting is definitely This Thursday according to Mark Ford . Sounds like the place is indeed being sold by years end . The buyers have not committed to any additional or less racing for 2025 . Tabled until sale goes through .

[Grandstand Handicapper]

Why close down the sports book?

[smokingjoe]

Because Boyd has their own sports book

[Papillon]

Why close down the sports book?

NJ has about 15 sports betting apps to choose from

why go to a brick and mortar place when you can use your phone?

[Grandstand Handicapper]

NJ has about 15 sports betting apps to choose from

why go to a brick and mortar place when you can use your phone?

Obviously. But is this an indication that there will be no more racing at Freehold? Someone said no 2025 dates have been applied for.

[smokingjoe]

I hear because the current owners would be shutting down if the purse money from the State isn't approved - still waiting for it by Governor.  Meanwhile, if the rumor Boyd Gambling is buying the place, they too wouldn't be doing anything until they officially take over, which I suspect will first require a full inspection on everything before such a deal closes. It can go either way in my book.

[Grandstand Handicapper]

Didn't Freehold get approved for $2mm from the State?

[Papillon]

i was under the impression that Freehold's $2mil for purses were locked in and M1 gets $8mil

Governor was on board and it was budgeted--all before this Boyd talk

Boyd is a fine gaming company but they are not excited about racing

They do operate Belterra in ohio and Delta Downs/Evangeline Downs in louisiana but they are most likely waiting for decoupling

the land that freehold sits on is valuable if is allowed to be redeveloped commercially

i have a sneaking suspicion Gural is involved-probably eyeballing the $2mil annually that freehold receives

i would say this does not look good for freehold racing--maybe one more year-ultimately the state of new jersey must sanction any closing-no gaming company or current owners can just shut down on their own

NJ doesnt work that way--it is the epitome of a "pay to play" state

Boyd and Governor Murphy must have had an interesting discussion

[Sunmoon 1219]

From what we hear out here because Boyd operates a casino west of here is that they are interested in running a huge Sportsbook and hopeful of a casino passage . Didn’t hear any mention of the horse racing side obviously Boyd is not in that game probably just a means to an end for them . I would say racing on life support out there plus how do they make ends meet racing every race for 4k ? Sounds like a losing model .

[Grandstand Handicapper]

i was under the impression that Freehold's $2mil for purses were locked in and M1 gets $8mil

Governor was on board and it was budgeted--all before this Boyd talk

Boyd is a fine gaming company but they are not excited about racing

They do operate Belterra in ohio and Delta Downs/Evangeline Downs in louisiana but they are most likely waiting for decoupling

the land that freehold sits on is valuable if is allowed to be redeveloped commercially

i have a sneaking suspicion Gural is involved-probably eyeballing the $2mil annually that freehold receives

i would say this does not look good for freehold racing--maybe one more year-ultimately the state of new jersey must sanction any closing-no gaming company or current owners can just shut down on their own

NJ doesnt work that way--it is the epitome of a "pay to play" state

Boyd and Governor Murphy must have had an interesting discussion

Good points! Are you sure the state needs to approve a shut-down of Freehold? It's privately owned-----not leased from the state-----and the owners are awarded race dates of course. Why approval from the state? If the state doesn't approve it, they can't force you to operate and run the race dates, can they? Sounds like serious litigation to me, LOL.

[Papillon]

Good points! Are you sure the state needs to approve a shut-down of Freehold? It's privately owned-----not leased from the state-----and the owners are awarded race dates of course. Why approval from the state? If the state doesn't approve it, they can't force you to operate and run the race dates, can they? Sounds like serious litigation to me, LOL.

almost positive the state has the ultimate say as long as they subsidize purses-forced the players to sign a non closure agreement

somehow linked to the already legislated "Green Acres" bill which protects horse farms, land, tracks from extinction

of course the state could always pivot very quickly and allow Boyd to kill racing

The $2mil freehold currently receives is welfare that could end at any time

[Sunmoon 1219]

Without the 2 million subsidy what would the purses be ? 1200 a race or so ? The subsidy sounds like the oxygen for those folks . Without it they will die .

[Grandstand Handicapper]

I simply don't know if there is a no shut down agreement in place. The $2mm was a continuation, an extension, so that includes the future. Wasn't it part of that bill that paid the monies through 2029? If so, is it possible the state simply says, sure go ahead, shut down, just give us back the monies you've received to date and haven't yet paid out?

The worst thing the tracks did was accept money to NOT get VLT/Slots. I think they'd be much more toward the head of the line.

[pocketrocketwinner]

It's 1.6Mil and no, not guaranteed. It subject to the states appropriation clause every year. This is Murphys last year