New Jersey horse racing association Gambling block cost racetrack 139M

The New Jersey Thoroughbred Horsemen’s Association has filed a lawsuit against four pro sports leagues and the NCAA. In fact, The Association claims that the leagues acted in bad faith when blocking sports betting. But also, the association claims that the leagues’ action cost one of the State’s racetracks over $139 million in lost revenues.

A look back at the circumstances for the lawsuit

Back in 2014, the leagues got a restraining order to block Monmouth Park Racetrack from having sports betting. But, at the same time, the leagues were promoting and endorsing businesses that made millions from fantasy sports. The leagues even sued Chris Christie who at the time was the Governor. Back then, Christie lifted the bans on sports betting at casinos and racetracks. But still, it was too late as the race track had already lost revenues. And as you know the NCAA lost its case in the Supreme court early this June. And now Monmouth Park has its own sports book center, which just re-opened today! So it seems that the Horsemen’s Association may have a valid claim to sue.New Jersey horse racing association Gambling block cost racetrack 139M

The Losses for Monmouth Park

Monmouth Park claims that as a result of the ban it lost out on revenues, and almost went out of business because of that. In Fact, Monmouth claims they would have made $139 million. For the period from November 2014 until the final Supreme Court ruling a couple of weeks ago. In essence, the Horsemen’s Association wants payment of a $3.4 million bond. The league posted this bond to compensate any losses that the association might experience while the restraining order was in effect.

For now, we don’t have more updates on this case, and we’ll for sure keep you posted once we hear of anything. Because if the Association wins this suit, it could mean that Monmouth Park will earn a lot of money. Which of course could be re-invested in their current business to make it even better!