S2229

31 Jan: Codey Legislation To Assist Racetracks Signed Into Law

TRENTON – Legislation sponsored by Senator Richard J. Codey (D-Essex) that will assist racetracks by allowing them to handle a greater variety of wagers was signed into law today.

The first bill, S-2229, will allow racetracks to combine all wagers placed on the results of one or more runnings or harness horse races into a single pari-mutuel pool. By creating larger pari-mutuel pools, racetracks can handle a greater variety of wagers and reduce the adverse effect of large pay-outs to the racetrack’s bottom line.

10 Dec: Codey Legislation To Assist Racetracks Clears Assembly Committee

TRENTON – Legislation sponsored by Senator Richard J. Codey (D-Essex) that will assist racetracks by allowing them to handle a greater variety of wagers was approved today by the Assembly Regulatory Oversight and Gaming Committee.

“The racetrack industry is a vital part of the economic well being of New Jersey,” said Codey. “Allowing tracks to combine wagers into a larger pool is a responsible way to protect them from crippling loses due to large payouts and will help keep racetracks stable.”