Horse racing in New Jersey, which seemed down for the count not long ago, made a Rocky Balboa-like comeback yesterday with the unprecedented announcement that the N.J. Sports and Exposition Authority, which owns and operates The Meadowlands and Monmouth Park, has earmarked about $9 million from its budget to increase purses in 1999.
Half of that amount will go to harness racing at The Meadowlands with the other half going to thoroughbreds, about $3.5 million to Monmouth Park and $1 million to the Big M’s flat meet.
The announcement follows the passage of a referendum last November that allows the state legislature to authorize phone betting and OTBs.
“It has taken eight months to refine the concept,” said Bruce Garland, senior vice president of racing for the NJSEA, “and we are hopeful this will be the first year of a planned two-year process. This infusion will ramp up our purses to levels we expect they will reach in a couple of years with the hopeful introduction of off-track and (phone) account wagering.”