A $1.6 million taxpayer subsidy will be transferred from the recently closed Freehold Raceway in Monmouth County to the Meadowlands Racetrack in East Rutherford, NJ. Gov. Phil Murphy recently signed a bill approving the move.
NJ’s three racetracks previously shared a $20 million pool of state subsidies with $10 million going to Monmouth Park in Oceanport, $6 million to the Meadowlands Racetrack and $1.6 million to Freehold Raceway.
Last Sept., Murphy made the move to give the $20 million a year in taxpayer money to subsidize horse racing purses at the racetracks through 2029. Though, the money will be reliant on his successors to continue going.
The additional $1.6 million that the Meadowlands Racetrack will be earning will allow the racetrack to add more racing days to its calendar as the year progresses. The move is guaranteed to help the venue draw more guests and hold more races.
Attendees at the Meadowlands Racetrack can expect to see more exciting racing experiences in the future as a result of this $1.6 million taxpayer subsidy.