Monmouth Park to continue sports wagering fight
From a Monmouth Park release
Monmouth Park Racetrack, which has been at the forefront of the fight to bring sports betting to New Jersey, will continue its quest to see the will of the people adhered to despite yesterday’s ruling from the Third Circuit Court of Appeals once again denying the advent of sports gaming in the Garden State.
“While I respect the Court’s decision, I respectfully disagree with the majority’s reasoning,” said Dennis Drazin, advisor to Darby Development LLC, operators of Monmouth Park. “We will now ask the New Jersey legislature and the Governor for a full repeal of all laws which prohibit sports betting, while simultaneously filing a petition for a writ of certiorari to the United States Supreme Court and asking the U.S. Congress to repeal PASPA altogether.
“We already have in place The Independent Sports Wagering Association (TISWA) and will use such as a self-regulating authority by which customers can have full faith and confidence that their wagers are secure. TISWA will operate in a similar capacity to other self-regulated industries, such as lawyers and realtors, and will have a commissioner overseeing its operations.
“By our estimates, if there is a full repeal of laws prohibiting sports betting, we believe that as least one-half of current illegal sports wagers would find their way to the doors of reputable establishments, such as racetracks and casinos, while the rest will remain business as usual. The difference now would be the economic impact recognized by the State of New Jersey and subsequently its residents.”
In 2012, New Jersey passed the Sports Wagering Act, which permitted the licensing and regulation of sports betting. The State was subsequently sued based on a 1992 statute – the Professional and Amateur Sports Protection Act (PASPA), and has since been involved in litigation leading up to yesterday’s decision.
“Based on the Court’s rulings, it is clear that a full repeal, rather than a partial repeal, cannot be challenged by the leagues,” Drazin said. “It is inevitable that a full repeal would enable New Jersey to offer sports betting, a fact which will hopefully prove a wakeup call to the leagues to push for a repeal of PASPA and allow for federal regulation of sports betting, the result of which will move a $400 billion underground and offshore industry into the light, to the delight of a majority of New Jerseyans and Americans.
“Additionally, we whole-heartedly believe that this issue is ripe for review by the United States Supreme Court,” Drazin said. “We will pursue that as an option as well as asking the U.S. Congress to repeal PASPA. We will not give up this fight until the will of the people of New Jersey, who overwhelmingly have supported sports betting, is adhered to.”