Tuesday, May 5, 2015

Monmouth Park close to breaking even fiscally

OCEANPORT, N.J. (AP) — Three years after taking over Monmouth Park, the operators of the New Jersey shore thoroughbred racetrack believe the facility either will break even this year or make a profit.

Speaking at the track’s season opening news conference on Tuesday, Dennis Drazin said the track has reversed recent losing trends, seen increases in betting handle and attendance the past two years and is now self-sufficient.

Drazin continues to be optimistic about the future of racing in New Jersey, saying the struggling industry will be the verge of a turnaround if either sports betting is legalized or the state legislature approves the expansion of casinos outside of Atlantic City.

State Sen. Raymond Lesniak, who has led the push for sports betting in New Jersey, wants the legislature to put a referendum on the November ballot for voters to approve casino expansion outside of Atlantic City.

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