Fresh off the heels of a 2015 season that saw Triple Crown winner American Pharoah (Pioneerof the Nile) capture the GI Haskell Invitational, Monmouth Park will open its doors for its 71st year of racing this Saturday. At the Oceanport oval's Opening Day Press Conference and Luncheon Tuesday, track officials and state legislators alike expressed optimism for the future of racing in New Jersey. 2016 will mark the fifth year that Monmouth Park has been operated by Darby Development LLC, a group representing local horsemen.
“We've gone from a facility that was previously operated by the state at losses of more than $12.5 million a year and was on the verge of shutting down,” said Dennis Drazin, advisor to Darby Development. “And now we've turned that corner, have nearly eradicated those deficits and placed ourselves on firmer ground and on a path toward a solid future.”
As usual, the 2016 meet will be headlined by the July 31 $1-million Haskell, which will be sponsored this year by Betfair.com–the online host of New Jersey's newly introduced exchange wagering option. Monmouth has also scheduled a number of festival events offering food and entertainment for racegoers, highlighted by the Jersey Shore Food Truck Festival held on Memorial Day Weekend. Other new events for 2016 include an Italian Festival Aug. 6 as well as a Latin Fiesta Aug. 20-21.
Monmouth Park continues to position itself on the cutting edge of the wagering aspect of the business as well. Betfair U.S. and TVG CEO Kip Levin was on hand to introduce exchange wagering and Haskell sponsorship to the audience, while track announcer Frank Mirahmadi made note of Monmouth's inaugural on-site Pick Your Prize Handicapping Challenge to be held June 4.
With the prospect of added casino funds and a ruling on the legality of sports betting in the Garden State on the horizon, Senator Jennifer Beck noted that securing external revenue is an integral component of efforts to preserve New Jersey's breeding and racing industries, as well as open spaces in the state.
Drazin echoed Beck's sentiments, adding that there is significant reason to be optimistic about the future.
“While we have accomplished much, we must continue to persevere to ensure a bright future for New Jersey racing,” Drazin concluded. “Our management team is committed to our all-of-the-above strategy when it comes to making a fan-friendly racing and entertainment destination that is second to none.”
First post-time is 12:50 p.m. ET, with gates opening at 11:30 a.m. daily. Live racing runs through Sept. 25. More information about the storied venue's racing and event schedule can be found here.
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