Monmouth Park to receive $10 million state aid in 2027 * The Racing Biz

Monmouth Park to receive $10 million state aid in 2027

Initial proposals would have cut the subsidy in half

Press Release
July 2, 2026

Monmouth Park will receive its customary $10 million purse subsidy in 2027 after New Jersey Gov. Mikie Sherrill signed the state’s budget late Tuesday, ending months of uncertainty over funding for the state’s Thoroughbred racing industry.

The final budget restores the full subsidy after Sherrill’s original budget proposal called for reducing the annual allocation to $5 million, a move that drew concern from horsemen and track officials about the future of racing in New Jersey.

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“We are grateful to the Governor and the entire legislature for recognizing how important horse racing is to New Jersey,” said Dennis Drazin, Chairman and CEO of Darby Development LLC, operators of Monmouth Park. “In addition to a personal thank you to Governor Sherrill, I want to thank Senators Vin Gopal and Paul Sarlo for their tireless work to support this industry and appreciating its impact across the State.”

The annual purse subsidy is a key source of funding for Monmouth Park’s racing program. The track is conducting a 50-day racing season in 2026 that runs through Sept. 13. The highlight of the meet is the Grade 1, $1 million NYRA Bets Haskell on July 18.

“As anyone in business knows, uncertainty is the enemy,” Drazin added. “With $10 million secured for next year’s purses, we can move on from uncertainty and continue to build a better industry and a better Monmouth Park.”

According to Monmouth Park, horse racing in New Jersey generates an economic impact of more than $4 billion annually, supports nearly 4,000 jobs, provides more than $75 million in tax revenues, and plays a significant role in preserving farmland and supporting agricultural businesses across the state.

Separately, the track announced it would cancel its planned card for Friday, July 3 because of the heat wave the region is experiencing. Racing is expected to resume Saturday, July 4.