OCEANPORT TASK FORCE COMMENTS ON DECISION BY THE NJSEA TO NEGOTIATE WITH DEVELOPER AND ENTREPRENEUR MORRIS BAILEY ON THE LEASE OF MONMOUTH PARK RACETRACK

The Monmouth Park Task Force is pleased with the New Jersey Sports and Exposition Authority‟s choice to begin negotiations with developer and entrepreneur Morris Bailey for a five-year private lease to run Monmouth Park Racetrack. The NJSEA expects to turn over track operations by June 1, 2011 to the successful lease operator.

“Oceanport is pleased the Authority is taking the next step toward for a self-sustaining industry in New Jersey and returning Monmouth Park Racetrack to its place as the premier location for thoroughbred horse racing. We look forward to his plans for revitalizing the facility and capitalizing on the OTW‟s. I look forward to seeing Monmouth Park under his management.” „ Said Mayor Michael J. Mahon, Task Force Chairman “We‟re hopeful Mr. Bailey will bring a fresh excitement to the 2011 season and quickly build on the success of the Elite Summer Meet held last year. Monmouth will be an exciting place again for horse racing. Oceanport and Monmouth Park Racetrack will continue our long standing partnership and we look forward to working with Mr. Bailey as he takes the reins.” Stated Councilman and Task Force member Joseph Irace

“The Oceanport Task Force on Monmouth Park has been hoping a lessee would step forward who would be committed to maintain Monmouth Park as a racetrack. This is critical for the Borough as we look to preserve jobs, protect the environment, maintain open space and preserve this historic centerpiece of horse racing in Monmouth County and the Jersey Shore.” Said Mayor Michael J. Mahon

The Oceanport Task Force on Monmouth Park has continued to maintain the position that

VLT‟s, slot machines, or an all out gaming casino in the Meadowlands is the only way to protect horse racing in New Jersey. All the surrounding states of New York, Pennsylvania,

Delaware and Maryland now have some form of gaming at their race tracks. This uneven

Playing field enables our competitors to lure New Jersey horseman out of State with larger purses and better quality horse racing. This will continue to challenge the industry as new operators take the reins at both the Meadowlands and here at Monmouth Park Racetrack.