For many years, the State of New Jersey, through the New Jersey Sports and Exposition Authority, operated two racetracks – the Meadowlands and Monmouth Park. Within the last year, deals have been reached between the state and private operators, ending the NJSEA’s long history of operating racetracks (oftentimes at a financial loss).
Amid rumors of a potential closure of historic Monmouth Park, and the failure to reach agreement in 2011 with a private operator to lease the track from the state, a landmark deal was recently struck between the state and the New Jersey Thoroughbred Horseman’s Association. Under that deal, the Horseman’s Association will take over the operations of Monmouth Park under a long-term lease, beginning on May 3, 2012. Part of the Horsemen’s Association plan includes the use of some of the extra acres owned by the track to create a year-round destination that will hopefully be symbiotic with the racing that takes place at the track.
Continue reading Bid Protest Challenges Landmark Deal For Private Operation of NJ Racetrack
On March 29, 2012, the Pennsylvania Supreme Court ended one long chapter of the ongoing story of the Foxwoods Casino Philadelphia project. The project’s owner, Philadelphia Entertainment and Development Partners (“PEDP”), petitioned the Supreme Court for allowance of appeal of a decision by the Commonwealth Court affirming the Pennsylvania Gaming Control Board’s revocation of PEDP’s Category 2 Slot Machine License. For all intents and purposes, the Foxwoods Casino Philadelphia project is now dead. Importantly, this means that a Category 2 Slot Machine License is now available in Pennsylvania, although it is unclear exactly what will happen with that license.
Continue reading Foxwoods Casino Philadelphia’s Journey Ends
On January 17, 2012, New Jersey Governor Chris Christie signed a bill, now codified as P.L. 2011, c.228, which establishes a pilot program for wagering terminals at “eligible taverns, restaurants, and similar venues where food, alcoholic beverages, or both” are served for on-premises consumption –i.e, bars and restaurants.
The legislation provides that the New Jersey Racing Commission may issue a license to an entity that currently leases a state-owned racetrack, for the establishment at not more than 12 bars of not more than a total of 20 wagering terminals. Only one license may be issued, however, a licensed entity may enter into an agreement with another licensed entity that also has an agreement with the state for the lease or sale of a state-owned track to jointly implement this program. The Meadowlands lessee and Monmouth lessee may agree to jointly operate this program (or either can do it itself, but if one does, the other cannot).
Continue reading New Jersey Takes Another Step Forward on Horse Race Wagering in Bars and Restaurants