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$500 Million In State Revenues Projected From New Racino

New York State, that is.

A new “racino” with only electronic gambling is set to open next month at Aqueduct Racetrack in Jamaica, NY.  The facility is expected to generate $10 billion in annual betting, $500 million in annual revenue to the State of New York, and 1300 jobs.  The $10 billion bet at Aqueduct will top the $7 billion annual handle at the Empire City Casino at Yonkers Raceway.

So says today’s New York Post.

The Meadowlands Racetrack is closer to Mid-town Manhattan than Jamaica or Yonkers.

Would someone tell me again why New Jersey is leaving all of that money “on the table?”

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Posted: September 21st, 2011 | Author: | Filed under: Horse Racing Industry | Tags: , , , , | 4 Comments »

4 Comments on “$500 Million In State Revenues Projected From New Racino”

  1. Bob English said at 9:27 pm on September 21st, 2011:

    It’s disgraceful that a couple of NJ politicians (Sweeney and Christie) have no problem in pouring hundreds of millions of dollars into Atlantic City and at the same time prevent a vote on casino style gambling at The Meadowlands. This also puts the states entire horseracing industry and the states equine industry in danger by not allowing horsetracks to compete with those tracks in surrounding states on an even playing field.

    A report done for the State of NJ said that the state would earn over $1 billion per year in new revenue from gambling at The Meawdowlands without harming Atlantic City. Note that a bill authorizing that would not only pass both houses of the state legislature, it might pass with a super majority.

  2. Bob English said at 9:34 pm on September 21st, 2011:

    Anyone who would like more info on the topic of slots/vlts or a full blown casino at The Meadowlands should check out this link to a Facebook page called “Save New Jersey Horseracing-Allow VLT’s at The Meadowlands” and remember to press “like” once you are on the page:

    https://www.facebook.com/#!/pages/Save-New-Jersey-Horse-Racing-Allow-VLTs-at-the-Meadowlands/129193943805073

  3. Warren Lapp said at 10:27 pm on September 21st, 2011:

    I’d be willing to bet (pun intended) that 1/3 of the money NY will take in will come from northern NJ. Lord knows enough already goes west to the PA casino and racinos. Gov. Christie… wake up and keep the local equine industry alive. The racing industry deserves an even playing field with Delaware, Pennsylvania and New York. Atlantic City can easily survive without worrying about a few video slot machines in Oceanport and Secaucus.

  4. Chris said at 8:33 am on September 22nd, 2011:

    And what about the cost of all the additional crime that the c…. wait, it’s Jamaica Queens