"We're unable to compete even with the Meadowlands Racetrack staying open," said Anthony Perretti, the general manager of Perretti farms, which this week announced it will close down its New Jersey based harness racing breeding operation within the next two years.
In a NEWJERSEY.COM article written by Andrew TANGEL, Perretti said:
"One hundred and sixty of the farm's broodmares will be sold in November in Harrisburg, while younger "yearling" horses will be sold at auctions in Harrisburg and Lexington, Ky. this year and next."
Meanwhile the Farm's spokesman Bob Marks told the AAP.COM'S Bob JORDAN that:
"It's very hard for (Perretti) to give up something he's put so much into, but the economics aren't there," Marks said. "We're selling our babies (young horses) often at a loss. We took a bath last year, and we'll take a bigger bath this year."