This news comes after New Jersey’s decision to privatize its racetracks. Previously this year, The State Racing Commission ok’d the transfer of Monmouth Park’s revenue streams which include race permits, off-track wagering licenses, simulcasting approval and the rights to receive account wagering revenue - from the NJTHA to Darby, with Red Bank Lawyer Dennis Drazin as its chairman and CEO. A massive development is also planned for the property. The plan is to build about 300 housing units, as well as a hotel and recreation area on the property. Drazin has indicated that money from the development will also be used to sustain Monmouth Park. The project is expected to break ground later this year.
Monmouth Park Ownership Transferred
Michele McBride
