N.J. Horsemen: Sports leagues, NCAA betting block cost Monmouth more than $130M
May 25, 2018 9:30 AM
by Robert Mann
The New Jersey Thoroughbred Horsemen's Association has gone to court against the four major U.S. professional sports leagues and the NCAA, claiming the leagues cost Monmouth Park more than $130 million in lost revenue by obstructing legal sports betting.
Monmouth Park is expected to begin taking sports bets sometime after June 7 in response to the recent U.S. Supreme Court decision that declared the law banning the practice as unconstitutional.
The horseman’s group that operates a spring/summer meeting at the track asserts, kin a Thursday legal filing, that the leagues and NCAA acted in bad faith when they sought a restraining order in 2014 to block them from offering sports betting, because the pro leagues were actively promoting and endorsing businesses that made millions from fantasy sports games that rely on individual player performances.
The leagues and the NCAA sued then-Republican Gov. Chris Christie after Christie signed a law lifting bans on sports betting at casinos and racetracks.
The horsemen say Monmouth Park would have made $139 million in revenue from sports betting between November 2014, when a judge imposed a permanent injunction barring the state from offering sports betting, and this month's Supreme Court ruling.
The filing seeks payment of a $3.4 million bond the leagues posted in 2014 to secure any loss the horsemen's association might suffer during the time the temporary restraining order was in effect. It also asks for an evidentiary hearing to determine the total damages owed by the leagues.
Spokesmen for the National Basketball Association, Major League Baseball, NCAA and National Football League have yet to comment.