Monmouth Park Delays Sportsbetting Launch

New Jersey horseracing track Monmouth Park postponed plans to begin offering bets on sports on Memorial Day after it was revealed that the state senate has a bill that would blacklist operators who begin taking wagers before regulations are fully in place.

Company CEO Dennis Drazin said that they would begin accepting wagers on Memorial Day, but was asked to wait by Senator Stephen Sweeney, who said that the legislature is working on fast-tracking a bill to put regulations on sportsbetting in place. That bill looks like it will be fully operational by early June, with betting destinations able to facilitate wagers shortly thereafter.

Speaking about the bill to website NJ.com, Sweeny said, "We're moving quickly with legislation. I'm hopeful we should be ready by early June. Everyone should respect the legislative process rather than jumping out."

"We fought for this for seven years. I'm anxious to get started just like everyone else."

Drazin said that he will respect the request of the government and will comply with all regulations. He went on to say that he is planning on suing the country's major sports leagues and the NCAA for damages the park sustained related to their attempt to block sportsbetting within New Jersey.

We'll be keeping an eye on this story and updating readers as we learn more.

Source: NJ.com