EAST RUTHERFORD - The Meadowlands Racetrack held a soft opening for a new venue today that will facilitate betting on horse races around the world. 

The 180,000-square-foot entertainment complex is home to hundreds of betting stations, a restaurant and a VIP area for horse owners.

Racing enthusiasts are now able to watch live simulcasts of races all over the world.

The Meadowlands will hold its first race at the new building on Saturday.

"It's a great day in the state of New Jersey for horsemen and horsewomen to have this beautiful new facility open," says racetrack spokesperson Jason Settlemoir. "It actually gives us a future to look forward to in New Jersey horse racing."

Hard Rock International helped develop the new entertainment center. Last April, the chain made a significant investment in the Meadowlands, fueling speculation that a casino could one day be built on the property.