A casino coming to the Meadowlands Racetrack in northern New Jersey hinges on the awarding of the downstate casino licenses in New York.
But, it won’t come without a huge fight from those New York gambling interests. So said Jeff Gural, principal owner of the racetrack in East Rutherford during an interview with the Meadowlands’ broadcaster Dave Little on Saturday during the track’s huge Hambletonian Day harness racing card.
Gural said for a casino to come to the Meadowlands a lot needs to happen. First, two of the three downstate New York licenses need to go to the operators of existing slot parlors at Yonkers Raceway (MGM) and Aqueduct Racetrack (Resorts World).
“My guess is that people in northern New Jersey are not going to want to drive over to George Washington Bridge and pay $16 to get to MGM at Yonkers,” Gural said. “Then, we’ll put it on the ballot again [in New Jersey], as a referendum.
“Once people see that they have to drive to New York to play slots and poker and roulette and all that stuff, I think they’ll say, ‘Why don’t they put a casino at the Meadowlands?’ But, it’s got to go on the ballot, and it’s got to win.”
Bringing casino to the Meadowlands would require voter approval
In 2016, Meadowlands Racetrack was instrumental in getting a referendum on the New Jersey ballot asking for voter approval to place casinos in the state outside of Atlantic City. The referendum was overwhelmingly defeated 77% to 23%, crushing Gural’s plan to add a casino to his racetrack.
“You know, the last time we lost, but the last time it wasn’t just [a casino] at the Meadowlands; it was really any place in the northern half of New Jersey and nobody wants a casino in their neighborhood,” Gural said.
“But, they’re okay with it at the Meadowlands because we already have racing, football [at MetLife Stadium], you name it. We don’t have anybody living across the street. But, I think the key is getting New York [casinos] up and running.”
Both New York and Atlantic City casino interests were a huge part of getting that 2016 referendum defeated. This time around, Gural said it will likely be more about the New York connections trying to protect their new turf.
“I think the bigger problem is New York,” Gural said. “My guess is [a casino at the Meadowlands will] have a bigger impact on the casinos that open in downstate New York than we will on the casinos in Atlantic City because the casinos in Atlantic City are going to be competing with the casinos in New York.
“So, New York is going to be spending a lot of money to defeat [a referendum].”
Gural: FanDuel Sportsbook at the Meadowlands has been a lifeline
Gural has long pinned his hopes on a casino coming to the Meadowlands.
It is the top harness racing track in North America, perhaps the world, but is the only major standardbred racing facility without casino-style gambling supporting racing purses. Those purses need to be high to attract the best horses, which are expensive to race.
The FanDuel New Jersey sportsbook at the Meadowlands (above) has been critically important, Gural said.
“Without sports betting [horse racing] wouldn’t be here. Sports betting basically pays all the bills. FanDuel does a great job [and] dominates in New Jersey… [Racing] couldn’t survive without sports betting.”
FanDuel Sportsbook led all New Jersey online sportsbooks in June revenue with handle of $29 million. DraftKings was a distant second with $14.4 million.
Beyond its own horse racing betting handle, the Meadowlands also relies heavily on its share of a $20 million annual subsidy from the state of New Jersey that it shares with thoroughbred racing’s Monmouth Park and harness racing’s Freehold Raceway.
“Without this $20 million appropriation from the state I don’t think Monmouth or The Meadowlands could exist because we’re competing with tracks that get a huge amount of money from slots,” Gural said.
“Yonkers gets $50 million from slots and [Harrah’s Philadelphia] and [Pocono Downs at Mohegan Pennsylvania] I think gets $30 million. We get $6 million [at The Meadowlands]. But, even with the $6 million it’s tough for us to compete on purses. Plus, we have a huge stakes program that is way more than any of the other tracks. Like you see today. We’re hosting [the Hambletonian] a million dollar race.”
Hambletonian card attracted $7.4 million in betting
On Saturday, the Meadowlands’ Hambletonian card distributed $3.45 million in purses.
For the first sixth time in the last seven years, all-source betting handle on the card exceeded $7 million, with over $7.4 million wagered on the races.
The Meadowlands typically handles over $3 million per race card, which leads North America’s harness tracks, but Gural said it’s still not enough to cover the costs of racing.
Asked whether he was optimistic about the Meadowlands’ prospects for the next five to 10 years, Gural said:
“The key is a casino, to be honest with you. I’m confident because I really think we’ll get as long as the referendum is limited to The Meadowlands and not just any place in northern New Jersey.”
