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Tuesday, December 27, 2011
NJSEA Ratifies Leasing of Meadowlands Racetrack to Jeff Gural (New Meadowlands Racetrack, LLC)


The Board of Commissioners of the New Jersey Sports & Exposition Authority today formally entered into a 31 (thirty one) year lease agreement with the New Meadowlands Racetrack LLC (NMRLLC), headed by Mr. Jeff Gural, for the operation of Meadowlands Racetrack. The agreement will close, and private operation commence, on December 24, 2011. The NMRLLC has been responsible for all costs of operating and managing the Meadowlands Racetrack since June 1 2011.

“This is a great day for the racing industry, its fans, and the people of New Jersey as we take a tremendous stride forward in achieving Governor Chris Christie’s goal of a self-sustaining racing industry in the State of New Jersey,” said NJSEA Chairman Mike Ferguson. “I want to publicly congratulate Mr. Gural and his team and the tireless efforts of the NJSEA management and Governor’s office in bringing this day about.”

 
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