N.J. Admin. Code § 13:69Q-1.14

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:69Q-1.14 - Review of participation agreements

(a) Notwithstanding any law, rule, or regulation to the contrary, fixed odds wagering by residents of this State on the results of horse races conducted in this State or jurisdictions outside of this State shall be lawful; provided that, for all fixed odds wagering conducted on in-State races, the licensed wagering operator maintains a written agreement with the Standardbred Breeders and Owners Association of New Jersey and the New Jersey Thoroughbred Horsemen's Association for such wagering on the associations' respective breeds.

(b) Such agreement shall include the portion of fixed odds wagering revenues payable to the respective association, the amount payable to the Authority or the authorizing racetrack, as well as the amount to be maintained by the licensed wagering operator.

(c) The licensed wagering operator shall submit the required agreement to the Division and the Racing Commission for approval at least 10 days prior to implementation. Within five days of receipt of the required agreement, the Racing Commission shall confer with the Division regarding the Division's approval or denial of the agreement. Any amendments shall be submitted to the Division and Racing Commission for approval at least 10 days prior to their effective date. Within five days of receipt of the required agreement, the Racing Commission shall confer with the Division regarding the Division's approval or denial of the amendments.

(d) Any participation agreement shall include an agreement by the operator to pay a proportional share of the available net project revenues determined by the operating board to the standardbred or thoroughbred permit holder, as the case may be, and a renegotiation mechanism to adjust a proportional share following the addition or removal of an operator.

N.J. Admin. Code § 13:69Q-1.14

Adopted by 53 N.J.R. 2081(a), effective 11/3/2021

Amended by 55 N.J.R. 1839(a), effective 8/21/2023