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New Jersey Tracks, Casinos Near Deal

TRENTON, New Jersey – As reported by the Press of Atlantic City: "The casino industry could approve an agreement as soon as this afternoon to add $86 million to horse-racing purses over the next four years.

"In exchange, the horse-racing industry would postpone its pursuit of video lottery terminals at the state's three racetracks.

"New Jersey Casino Association President Dennis Gomes said he would present the details of a potential agreement to association members at today's monthly meeting.

"…The Governor's Office has been overseeing negotiations between the casino and horse-racing industries for several months now, but the pace accelerated considerably during the past two weeks. Both sides met again at the Statehouse on Monday.

"…Horse-racing advocates contend casinos should help fatten race purses because the industry damaged the sport when it opened in Atlantic City 25 years ago.

"…On the other side, casino advocates say the number and quality of jobs racing provides does not compare with the Atlantic City gaming industry. U.S. Rep. Frank LoBiondo, R-2nd, questioned why the state would want to take money from an economic engine to help a faltering business…"

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