This Racetrack Bet Big on Sports Gambling Being Legalized—and Won

New Jersey's Monmouth Park made a $3 million investment and now looks to reap the rewards.

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Police stand nearby for the arrival of Triple Crown Winner American Pharoah at Monmouth Park Race Track for Sunday's William Hill Haskell Invitational on July 29, 2015 in Oceanport, New Jersey. (Horsephotos/Getty Images)
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Monmouth Park, a nondescript racetrack near the Jersey Shore, made a big bet on legalized gambling five years ago and, thanks the recent Supreme Court decision, it looks ready to cash in. Starting in 2013, the racetrack’s bar received a $3 million face-lift when the track—owned by one of the world’s biggest sports betting operators—wagered that New Jersey would ultimately allow legalized sports betting. The dream may be a reality as soon as next month, as the New Jersey legislature looks to vote on a bill on June 7, writes the New York Times.

Dennis A. Drazin, the racetrack operator, and William Hill, a London-based international sports betting operation with dozens of locations across Nevada, now hope that their long-term wager on sports betting will help bring in a much-needed infusion of cash to the race track.

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