Bailey Wins Monmouth Park Lease

Morris Bailey was announced as first winner of the 2011 racing season at Monmouth Park Thursday evening, two days before the first race's thoroughbreds trot out to the paddock.

Co-owner of Resorts Casino, Bailey was awarded a five-year lease to operate Monmouth Park after 12 hours of final negotiations, Gov. Christie's office announced Thursday evening.

Bailey will take the reins June 1, and the borough of Oceanport's Monmouth Park Task Force couldn't be happier.

"We look forward to Mr. Bailey’s plans for revitalizing the facility and capitalizing on the OTW’s," said Oceanport mayor and Monmouth Park Task Force chairman Michael J. Mahon in a statement. "I look forward to seeing Monmouth Park under his management.”

There will be 71 meets split between the summer and fall under Bailey's management -- the same as 2010 -- with an average minimum of $400,000 in purse money for each meet.

"This is critical for the Borough as we look to preserve jobs, protect the environment, maintain open space and preserve this historic centerpiece of horse racing in Monmouth County and the Jersey Shore,” said Mahon.

According to a report from NJ.com, the state's horsemen still need to sign off on the deal, as state law requires 141 racing dates for thoroughbreds. For their part, the Monmouth Park Task Force believes Bailey is committed to forging a partnership with the horsemen, a partnership which the Asbury Park Press reports Bailey will seek next week.

Gov. Christie was also pleased with the agreement, finding its passing essential to the local economy.

"I was determined to bring this deal home," Christie said in a statement. "There are many beneficiaries. We're saving a New Jersey tradition with the continuation of live horse racing at the Meadowlands and Monmouth Park; we are saving and creating jobs; and we are helping to preserve New Jersey farmland and a way of life for many people, from horse farm owners and employees, to jockeys, to racing enthusiasts."

Also included in the deal are the rights for Bailey to operate the off track wagering (OTW) location in Woodbridge, the highest-volume OTW in the United States, along with four other OTWs.

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