The expected decision by New Jersey Governor Chris Christie to sell or implode the Meadowlands Racetrack is infuriating because it makes zero logical sense.
Oh, I understand political logic just fine. Money is blood to politicians and the Atlantic City casino lobby has it. The horse racing industry does not. Bye, bye Big M.
But it all smacks of blood money to me. Here’s why: this whole thing could be solved so easily.
I realize I have a bias toward saving the Meadowlands. Anyone in their right mind or with even a passing interest in harness racing should share that bias.
But strip away the harness racing part of this for a second — and, by extension the huge mistakes made at the Meadowlands in recent years (a topic for another time) — and just think about what’s best for the people of New Jersey.
First, let’s be frank about Atlantic City. It’s not Las Vegas, for one thing. Meaning, it’s not on many people’s list of gambling destinations. Atlantic City is also surrounded by casino gaming in the neighbouring states of Pennsylvania and Delaware and statistics prove those people are staying home, en mass, to do most of their gambling. Atlantic City is now too far from New York City, especially in an age where casino gambling is readily available closer (Yonkers, Connecticut, the Internet).
So, even if the state takes over jurisdiction of the Atlantic City casino district (which is highly questionable in itself), there’s no chance Atlantic City will ever become Las Vegas or Macau or even the Bahamas. Why pour more money into it? Leave it alone. It has its fans. Besides, it’s not like someone is going to build a better casino in Atlantic City that’s going to solve all the problems. There’s some fabulous ones there already.
Here’s where the Meadowlands comes in. It sits on a parcel of state-owned land 15-20 minutes from midtown Manhattan, connected by major freeways and both rail and bus service. Eight million people live in New York City. Many millions more live in northern New Jersey. For that reason, putting a major casino, hotel and conference centre beside both the Meadowlands Racetrack and the New Meadowlands Stadium makes all the sense in the world.
Casino gambling is already legal in the state. The swamp is not near a residential community. Most importantly, the state has the land, the transportation and easy proximity to the largest city and population base in the United States. Why not maximize that for economic gain?
In a state facing severe economic woes, why would you not want an annual injection of hundreds of millions of dollars?
But won’t it hurt Atlantic City? Sure. That’s why you open the bids up only to current Atlantic City casino operators. Have one of them run the new casino at the Meadowlands. Hell, create Atlantic City North. Have a couple of casinos there.
Can you imagine the casino business you’d do before or after a Giants game or a Bruce Springsteen concert? That’s another thing the Meadowlands has over Atlantic City — constant, massive traffic to the site for other entertainment.
So, what’s the cost of entry to the biggest market in the country? A hefty licensing or land-lease fee, a paltry 15-20 per cent to the horse racing industry and taxes to the state. Then, turn around and take that money to balance the state budget. Anything left over goes to lowering property taxes in the state.
Everyone wins, including harness racing.
Then, the Big M, the economic engine that drives harness racing, keeps chugging and the people who have invested the most — the standardbred breeders — stay afloat, which, in turn preserves the much-needed green space in the country’s most densely-populated state.
Sounds pretty easy to me.
Ah, but I forgot. This isn’t about sound reasoning or fiscal logic or even doing what’s right for the people who elected you.
This is about money and politics. It's just the latest example of what a nauseating, unseemly game that is.