Monmouth Park Ready If Sports Betting in New Jersey is Approved

If sports betting becomes legalized in New Jersey, Monmouth Park says it is ready to bring it to the Oceanport racetrack.

Monmouth Park has teamed with William Hill, a sports betting company, for a long-term agreement to become the racetrack's exclusive sports betting provider.

"We are looking forward to a long and successful partnership with Monmouth Park," William Hill US CEO Joe Asher said during a press conference on Tuesday.

Should sports betting become legal under federal law, William Hill will develop a Las Vegas-style sports book at Monmouth Park once New Jersey gaming regulatory authorities approve of the plan.

The state enacted a law legalizing sports betting in 2012 following a voter referendum that passed by a 2-to-1 margin.

However, the major professional sports leagues, such as Major League Baseball, the National Football League and National Basketball Association, as well as the NCAA have sued to stop New Jersey's plans. The leagues and NCAA claim allowing sports betting would violate federal law.

A federal judge ruled in favor of the leagues and the NCAA in February, but New Jersey has filed an appeal and oral argument is scheduled for the Third Circuit Court of Appeals on June 26.

New Jersey Thoroughbred Horsemen's Association Advisor Dennis Drazin said he is optimistic sports betting will come to Monmouth Park.

"We anticipate sports betting coming to New Jersey and bringing Las Vegas-style sports betting to Monmouth Park," Drazin said.

William Hill will also sponsor the $1 million Haskell Invitational, which will be run July 28. The Haskell brings some of racing's best three-year-old horses to Monmouth Park each year.