New Jersey OKs $20M subsidy for horse racing industry

Posted: Updated:

By WAYNE PARRY
Associated Press

FREEHOLD (AP) - New Jersey is back in the horse racing business.

The return of state support is good news for tracks that have struggled to compete with rivals in adjacent states that offer casino gambling as well.

New Jersey Gov. Phil Murphy signed a bill last week providing $20 million to help boost racing prizes this year. Although the legislation calls for $20 million each year for the next five years, future subsidies will depend on how each year's budget shapes up.

The action by the Democratic governor restores state subsidies that were ended by his Republican predecessor Chris Christie in 2011.

The state had been giving tracks $30 million a year in return for them not offering casino gambling, which remains restricted to Atlantic City.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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