Authorizes placement of patron-operated lottery terminals at running and harness horse racetracks.
Impact
The financial structure of the Racetrack Lottery Terminal Fund is designed to balance the interests of multiple stakeholders. After accounting for prize payments and administrative expenses, the remaining revenue will be split equally among three key areas: supporting participating permit holders, benefiting the horse racing industry, and contributing to the General Fund for state expenses and funding for education. This allocation is expected to enhance support for the horse racing culture in New Jersey while simultaneously ensuring essential state services are funded.
Summary
Assembly Bill A3051 proposes the authorization of patron-operated lottery terminals at running and harness horse racetracks in New Jersey. Specifically, the bill allows up to 500 terminals at each racetrack that conducted live racing in 2015. The project aims to create a new revenue stream for both the horse racing industry and state expenditures by permitting the State Lottery Commission to oversee these terminals. Revenue generated from these terminals will be funneled into a newly established Racetrack Lottery Terminal Fund responsible for managing finances related to the lottery operations and providing necessary state aid.
Contention
Notably, this bill repeals a previous law that prohibited the establishment of video lottery terminals, signifying a shift in legislative perspective towards gambling and state revenue generation. While proponents argue that this will help revitalize the horse racing industry and generate much-needed funds, opponents may raise concerns about the implications of expanded gambling, including potential social impacts and the ethics of encouraging gambling practices. The response from voters and advocacy groups surrounding gambling could heavily influence the bill's progress in the legislature.
Permits State Lottery Commission to authorize video lottery terminals at Meadowlands racetrack, upon voter approval; dedicates 1/3 net proceeds to General Fund, 1/3 to State education aid, and 1/3 to horse racing industry.
Relating to the operation of video lottery games by licensed horse and greyhound racetrack operators, to a defense for the operation of video lottery by Indian tribes, to the authority of the Texas Lottery Commission and the Texas Racing Commission, and to the conduct of gambling in this state; providing penalties; authorizing fees.
Relating to the operation of video lottery games by licensed horse and greyhound racetrack operators, to a defense for the operation of video lottery by Indian tribes, to the authority of the Texas Lottery Commission and the Texas Racing Commission, and to the conduct of gambling in this state; providing penalties; authorizing fees.