New Meadowlands Racetrack starts racing Saturday

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EAST RUTHERFORD, N.J. (AP) -- With the new, $88-million Meadowlands Racetrack scheduled to open for live racing on Saturday, Jeff Gural understandably has a case of the jitters.

Gural, the managing partner of Meadowlands Racing and Entertainment, and fellow investors are wagering that the smaller building loaded with creature comforts for harness-racing fans and bettors will be able to turn a profit in an industry that has fallen on hard times.

The new Meadowlands is about a third of the size of the old one, which is located on the other side of the one-mile oval racing surface. Its grandstand can seat 2,200, and the clubhouse, simulcasting area, bars, upscale restaurant, sky boxes, corporate meeting rooms and outdoor terraces can hold 10,000.