Gural Sees Casino In Big M Future

jeff-gural-bigm.jpg
Published: January 22, 2011 10:52 am EST

Stating that this is unquestionably "the biggest challenge of his life", horse owner, real estate investor and racetrack operator Jeff Gural answered questions on the future of the Meadowlands and harness racing in New Jersey on Friday night before the Big M's card

.

Sam McKee interviewed Gural, who was positive yet realistic about the long-term feasibility of racing at North America's premier location. Gural's intervention, as it turns out, came at just the right time.

"Tommy [Luchento of the SBOANJ] asked me to call someone in the Governor's office, and when I called them, they said it's good you called, we're getting ready to announce that the track's going to close tonight," Gural revealed. "So I ran down there and fortunately, with the help of the New Jersey horsemen, we were able to come to an agreement to give me until the end of March to work on a long-term lease."

Gural fully understands the state's stance on reducing funding.

"We're in an environment where we're hearing stories of policemen being laid off, teachers being laid off...it's hard to argue that's where the money should go even though I think we all agree that horse racing generates and creates a lot of jobs in New Jersey, a lot of open space. Having said that, it's a fair request to try to see if we can't stand on our own two feet and not require any subsidy."

The first part of the interview also touches on Gural's plans for renovating the track and a smaller grandstand, OTB locations in New Jersey, what he would change about the restaurant and food service and whether or not The Meadowlands can turn a profit.

"It has to [turn a profit]," Gural offered bluntedly. "I haven't really met with the union leaders but I'm hopeful they understand that there are two options. There's Option A which is to come up with a plan that makes the track self-sustaining and Option B is to close. We don't have an Option C."

Jeff Gural Interview - Part 1

 

In the second part of the interview, McKee asked Gural about his outlook on a Meadowlands casino.

"I'll tell you what I think is going to happen. I think you're going to see table games at Yonkers, Aqueduct, Tioga and Vernon. It will take a constitutional amendment and that will take a couple of years. But I'm convinced the public understands that table games, as opposed to slots, creates a lot of jobs. Slots is where the money is for the casino owner, but from the state's standpoint if you need jobs - and we need them bad - then [tables games] is a big job creator and will create some revenue.

"If Yonkers and Aqueduct have full casinos, Atlantic City can't in good conscience be worried about competition from The Meadowlands. So if I had to guess, I would think that if nothing else that would force the state to put slots at the Meadowlands. No one will go to Atlantic City once [table games in New York] happens."

Jeff Gural Interview - Part 2

Tags
Have something to say about this? Log in or create an account to post a comment.