New Jersey sportsbook suit still hopes to collect $ 3 million

TRENTON, NJ (TBEN) – The new year could bring resolution in a lawsuit that targets millions of dollars from major professional sports leagues and the NCAA over their opposition to legalized sports betting in New Jersey in 2014.

A federal judge’s ruling this month dismissed an attempt by the New Jersey Thoroughbred Horsemen’s Association to recover more than $ 100 million in damages against the NBA, NFL, NHL, MLB and NCAA after that Monmouth Park Racecourse has been barred from offering sports betting for more than three years. years before the U.S. Supreme Court legalized it in 2018.

However, more than $ 3 million is still at stake which the Leagues put in the form of a default bond when they managed to secure a temporary restraining order against the track in the fall of 2014.

The case stems from the early days of the battle for sports betting in New Jersey, which voters approved a few years earlier and the state legislature had enacted. This was despite a 1992 federal law banning it everywhere but in Nevada and three other states with limited exclusions.

In October 2014, a federal judge issued a temporary restraining order ending Monmouth Park’s plans to open a sports betting parlor, siding with the leagues’ argument that allow the track to start running. accepting bets would cause irreparable damage to their brand and the integrity of their games. .

The Leagues posted a $ 3.4 million bond, intended to secure any losses the track could suffer in the month the ban order was in effect. When the order expired in November 2014, the judge struck down New Jersey’s sports betting law on the grounds that it violated federal law of 1992.

The court battles continued and the Supreme Court gave New Jersey a victory in May 2018 when it struck down the 1992 law, clearing the way for any state to offer sports gambling.

The NJTHA immediately sought recovery of the 2014 bond and also asked what it estimated to be $ 140 million in damages incurred because it was unable to offer sports betting between the time. where the prohibition order expired in 2014 and the Supreme Court ruling in 2018.

The claim for additional damages was based on an accusation that the leagues acted in bad faith when they sought the 2014 ban order, in part because they were already promoting and endorsing companies that were making millions. from fantastic sports games based on individual player performance.

The leagues called the claim frivolous. In a December 3 notice, U.S. District Judge Freda Wolfson denied the NJTHA’s claim for additional damages and said she would hold a hearing to determine whether the association was entitled to recover the full amount of the claim. bail for the 28-day period in which the restraining order was placed.

In court filings, the leagues said they would challenge the NJTHA’s calculations on how much potential revenue was lost during that time. A hearing date had not been set.

Messages requesting comment have been left with counsel for the parties.

(Copyright 2020 by The Bharat Express News. All rights reserved.)

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