Dennis Drazin

The Week in Review: Before Feasting Upon Thanksgiving Fare, Chew On This

Last week's headlines had little to do with on-track action. This coming week though, we awaken from the sport's annual post-Breeders' Cup snooze with an eye toward decent Thanksgiving weekend racing and on-the-horizon stakes that could add a touch of intrigue to the tail end of the 2020 season. But before you feast upon the holiday fare, chew on these side dishes that anchored the last seven days of the news cycle (plus a few other tidbits that didn't land on the front pages): Last Tuesday we learned via federal...

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New Jersey Fixed-Odds Pilot Program Cleared for 2021

Even as a separate bill to allow fixed-odds wagering on in-state horse races is making its way through the New Jersey Legislature, the state's racing commission voted 4-0 Nov. 18 to give consent for licensees to try a fixed-odds pilot program during 2021 that would be limited to bets on out-of-state Grade I races. The vote was unanimous but not without misgivings, as several commissioners voiced concerns prior to the vote that fixed-odds betting would cannibalize the existing pari-mutuel system and eventually erode New Jersey's racing industry. And one New...

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Authentic Earns $1M BetMakers Bonus With Classic Win

With his victory in Saturday's GI Longines Breeders' Cup Distaff, Authentic (Into Mischief) earned a $1-million bonus for his connections from Australian-based racing technology group BetMakers. In conjunction with Monmouth Park's Dennis Drazin, BetMakers created the 'BetMakers Bonanza' for any horse that could win the 2020 renewals of the GI Haskell Invitational, the GI Kentucky Derby and then finish it off with the Breeders' Cup Classic. Authentic went wire to wire to score in the 10-furlong test by 2 1/4 lengths. "With all the winners of the majors competing in...

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2020 Monmouth Meet Ends on a High

Monmouth Park showed increases in both the daily transmission of its signal and in total average handle compared to 2019 during the combined 44-day meet that concluded Saturday. Monmouth Park's average daily simulcast handle increased 27.09% to $3,604,413 daily compared to $2,836,148 last year. The overall average handle was up 20.81% to $3,807,082 daily compared to $3,151,201 last year. "We are so grateful to everyone for supporting this extraordinary meet and, more specifically, the Governor's Office and the New Jersey Racing Commission for allowing us the ability not only to...

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The Week in Review: How Long Can Racing Fend off the Sports Betting Juggernaut

When it was announced last week that a record $748.6 million had been wagered on sports during September in New Jersey that appeared to be more bad news for horse racing. It was the most ever bet in any one state during a month and a sign of the times. The amount legally wagered on sports in this country is soaring, with no end in sight, and it stood to reason that some of that money had been siphoned off from racing. Sports betting is now available in 18 states...

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New Jersey Purse Subsidy Cut by Just $5 Million

After a $20 million purse subsidy that was used to bolster purses at New Jersey's Thoroughbred and Standardbred tracks was left out of an initial budget proposal from Governor Phil Murphy, lawmakers have approval a final budget that will include a $15 million subsidy for the 2021 racing season. The money will be divided evenly between the two breeds. "I am pleased that the governor has seen fit to give us back 15 of the $20 million that is going to go support purses next year," said Dennis Drazin, Chairman...

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Betfair to Pull Plug on NJ Betting Exchange

Beginning Oct. 1, Betfair will no longer accept exchange wagers from its New Jersey customers, ending a brief and unsuccessful experiment in the U.S. for a form of wagering that couldn't overcome a number of obstacles that stood in its way of success. Founded in 2000, Betfair introduced exchange wagering in the U.K., where it proved to be wildly popular. A betting exchange is a marketplace where customers set their own odds on a horse. If someone accepts those odds, the bets are matched. This also allows customers to act...

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Monmouth Park's Dennis Drazin Issues Statement Supporting Horse Racing Integrity and Safety Act

Darby Development CEO and Monmouth Park Operator Dennis Drazin issued the following statement Friday regarding the Horse Racing Integrity and Safety Act: As Chairman and CEO of Monmouth Park Racetrack and as counsel and advisor to the New Jersey Thoroughbred Horsemen's Association (NJTHA), I am pleased to announce Monmouth Park's support for the Horse Racing Integrity and Safety Act. I had the opportunity to listen carefully to the press conference at Keeneland where Senator Mitch McConnell announced his support for this historic legislation designed to improve the integrity and safety...

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Horologist Co-Owner Banned For Appearing In Winner's Circle

Cameron Beatty, a co-owner of Horologist (Gemologist), has been banned from Monmouth Park for the remainder of the 2020 meet after he appeared in the winner's circle following her win in the June 18 GIII Molly Pitcher S. Because of the coronavirus, Monmouth is not allowing owners in the winner's circle or in the paddock. Dennis Drazin, who heads the management team that runs Monmouth, said that, for now, the suspension means only that Beatty is not allowed on the premises. However, he said further disciplinary actions could be taken...

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Thoroughbred Meet at Meadowlands a No-Go for 2020

The planned return of autumn Thoroughbred racing on both dirt and turf at the Meadowlands will have to wait for another year. The New Jersey Thoroughbred Horsemen's Association (NJTHA) and track management at the Meadowlands have come to a mutual decision not to convert the facility's main dirt track from a Standardbred to a Thoroughbred setup for 19 already-allotted Friday and Saturday dates between Oct. 2 and Dec. 5. Under an agreement reached last year, dual-surface Thoroughbred racing was to be conducted at the Meadowlands for the first time since...

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BetMakers To Sponsor $1M Bonus For Haskell, Derby, Classic Sweep

BetMakers Technology Group will sponsor a $1-million bonus for any horse that manages to sweep the GI TVG.com Haskell S., the GI Kentucky Derby and GI Breeders' Cup Classic. The promotion will be known as the 'BetMakers Bonanza.' Todd Buckingham, CEO of BetMakers, confirmed that they will offer the bonus structure for the next three years. "We are delighted to sponsor this bonus for the next three years and hope it can attract the best horses to attempt the lucrative quest beginning with the Haskell at Monmouth Park this year,"...

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Monmouth Attendance Will Be Limited to Fewer Than 3,000

Hoping to allow crowds as large as 15,000 to its live racing days, Monmouth Park management has been given new guidelines by Governor Phil Murphy's office that will cap live attendance at a much smaller number. Dennis Drazin, chairman and CEO of Darby Development LLC., which operates the track, was still crunching the numbers yesterday prior to opening day at the abbreviated meet and going over what he could and could not do, but estimated that the amount of people that would be allowed in the track would be between...

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