It has been reported that the Meadowlands Racetrack's operator, the New Jersey Sports and Exposition Authority, has cut its payroll by $1.3 million since October, 2009, but that the organization still faces a major budget gap which will require $30 million in state funding
According to an article on nj.com, since October, 2009 the number of people employed by the NJSEA has shrunk from 185 to 160 and the payroll has shrunk from $12.6 million to $11.3 million. Of those remaining on the NJSEA payroll, 32 of them earn more than $100,000 annually.
The report states that NJSEA has been under mounting financial pressure in recent years, in large part due to the state’s horse racing industry which is now operating at a loss. There has also been a mass exodus of professional sporting franchises from the complex and the Xanadu entertainment project has stalled.
(With files from nj.com)