Monmouth Park: No sports betting when track opens

With horses set to begin arriving at Monmouth Park on Friday in preparation for opening day May 5, it now appears to be a longshot that the Oceanport racetrack will have a much-needed alternative revenue stream to help with purses and operations when patrons start filing through the turnstiles.

On Tuesday, the U.S. Supreme Court did not issue a ruling on New Jersey’s seven-year battle, which Monmouth Park has helped push, to legalize sports wagering in the state.

The court has been taking up the matter since oral arguments in December. The next possible opportunity for SCOTUS to announce decisions is Monda, although that is not definite.

If there are not decisions Monday, or the court again does not issue a ruling, the chance for a decision would be in May.

Either way, it appears highly unlikely there will be wagering on sporting events, as well as Monmouth Park's live card and the Kentucky Derby, on opening day, even though track officials have indicated it would be accepting wagers within a two-week timeframe.

The track has used $1-million it received for a two-year sponsorship of the Haskell Invitational from William Hill, its partner in sports wagering, to convert an existing area into the William Hill Sports Bar, which could be quickly turned into a sports book. The track recently expanded the area.

Monmouth Park has been leased from the state by the New Jersey Thoroughbred Horsemen’s Association since 2012, when former Gov. Chris Christie privatized the horse racing industry and eliminated the annual subsidies from Atlantic City casinos that were used to supplement purses, in exchange for race tracks not pursuing slot machines.

Since then, the track has struggled to maintain its purse levels amid increased competition from tracks in neighboring states that have casino gaming money to supplement purses and operations.

Sports betting is seen as Monmouth Park’s only real opportunity to gain a sizeable stream of extra revenue. New Jersey voters overwhelmingly voted down a referendum that would have expanded casino gaming outside Atlantic City in Nov. 2016. And while Monmouth Park was not slated to get a casino, it would have shared in the revenues generated at the Meadowlands.

It’s unclear how much Monmouth Park’s share of the sports wagering pie would be, although estimates have been put at upwards of $50-million annually.

Stephen Edelson is an Asbury Park Press columnist: sedelson@gannettnj.com; @SteveEdelsonAPP