The New Jersey Senate on Monday joined the state’s Assembly in overwhelmingly passing a bill extending $10 million in annual Thoroughbred purse subsidies through 2029, according to legislative records.
The subsidies will sustain a critical lifeline to horsemen at Monmouth Park in a state where racetracks do not receive subsidies from casino gambling. Last year, Monmouth distributed $31 million in purses over 56 live racing days, for an average of $553,000 a day, the highest in its history, with one-third of that money coming from the subsidy.