Meadowlands Racetrack to Provide sportsbetting from July 15

In New Jersey, Meadowlands Racetrack has reportedly announced that it will be following the lead of the eastern state’s Monmouth Park Racetrack and Borgata Hotel Casino and Spa next month in launching sportsbetting services.

According to a Friday report by ESPN citing information obtained by the Associated Press news service, the Bergen County facility revealed that it plans to partner with the Betfair US subsidiary of Dublin-based bookmaking giant Paddy Power Betfair to bring sportsbetting to its customers  beginning July 15 in hopes that the move will help it to partly revive its slumping fortunes.

New Jersey recently became the second state after Delaware to legalize sportsbetting on a wide assortment of collegiate and professional sports for anybody over the age of 21 while the Borgata Hotel Casino and Spa and Monmouth Park Racetrack began accepting wagers from June 14. This followed a momentous May ruling in the United States Supreme Court that invalidated the Professional and Amateur Sports Protection Act (PASPA), which had mostly limited legitimate sports wagering to Nevada.

Jeff Gural, Chairman and Chief Executive Officer for Meadowlands Racetrack operator, American Racing and Entertainment, revealed that the thoroughbred and harness-racing centre ’s coming sportsbetting company, which may soon encompass an online proposal, is due to be helped by the current inability of legislators in neighboring New York to pass an updated sports wagering laws .

There are 15 million people that live within 20 kilometers of Meadowlands [Racetrack]. They gave me a huge gift. ”

American Racing and Entertainment is also responsible for New York’s Tioga Downs Casino Resort and Gural warned that sportsbetting itself may not be adequate to fully revive Meadowlands Racetrack as it continues to compete against horseracing venues in neighboring states that enjoy substantial subsidies. ESPN explained that tracks in New Jersey formerly received roughly $30 million every year that was gathered from casinos in Atlantic City, but former Republican Governor, Chris Christie, did away with those payments in 2011. With this service, the track supervisor stated that the property could be pressured into supplying just simulcasting and sports wagering.

ESPN reported that the move from Meadowlands Racetrack usually means that it’s to become the fourth largest New Jersey venue to offer sportsbetting as Atlantic City’s Ocean Resort Casino, which was formerly known as the Revel Casino Hotel Atlantic City, is also expected to feature sports wagering when it re-opens out of Thursday.