Posted: Nov. 14, 2017
Monmouth Park, in an effort to increase pari-mutuel handle in northern New Jersey, is seeking partners to develop “turnkey” betting operations at restaurants and bars.
The program, approved by law a few years ago, is a low-cost option compared with the millions of dollars required to open a full-scale off-track wagering facility, of which there are six in New Jersey: Bayonne, Hillsborough Township and Woodbridge Township in the northern part of the state, and Gloucester Township, Toms River and Vineland in the south.
Darby Development, which operates Monmouth on behalf of the New Jersey Thoroughbred Horsemen’s Association, said the program calls for installation of kiosks from which individual playing pads can be obtained. The machines will accept cash and pay out cash on winning tickets. Races would be broadcast at the restaurants and taverns.
“It’s an exciting way to bring horse racing even closer to fans, while simultaneously driving business to new locations that partner with us on this program,” Bill Knauf, Vice President of Business Operations for Monmouth, said in a release. “We invite anyone who is interested to contact us to discuss this exciting new opportunity.”
Knauf said there would be no costs for host facilities that meet statutory criteria.
Off-track wagering at the six facilities in New Jersey in 2016 generated $165.9 million in total handle, according to New Jersey Racing Commission statistics. The top three by handle were Woodbridge ($60.8 million), Bayonne ($36.2 million) and Toms River ($30.3 million). Woodbridge is operated by Darby Development.
Simulcast wagering at Atlantic City casinos is down to one facility: Borgata Hotel Casino and Spa, which last year handled $34 million.
More information on the Monmouth wagering partnerships is available from Knauf (firstname.lastname@example.org) or Mike Vukcevich (email@example.com).
(Monmouth Park photo by Tom LaMarra)