OCEANPORT, N.J. -- Stewart Elliott is dropping his Philadelphia connection this summer.

The jockey who rode Smarty Jones to wins in the first two legs of thoroughbred racing's Triple Crown is leaving Philadelphia Park to ride at Monmouth Park.

"We were thinking about this before Smarty Jones, we were thinking about making a move somewhere," Elliott said Tuesday at a news conference to usher in the new Monmouth season.

Elliott, who has raced at Philadelphia Park for the past four years, is returning to Monmouth, where he was the second leading rider in 1999. He said the move was attractive because the New Jersey Shore track will be among the beneficiaries of a $20 million windfall from the state casinos.

The casinos will be giving the racing industry $86 million over the next four years to settle litigation. The money is earmarked for overnight purses and breeding funds for the state's standardbred and thoroughbred industries.

Under a distribution plan announced Tuesday, Monmouth Park will offer guaranteed purses of $320,000 during its 72-day meet, which opens on Saturday and runs through Sept. 26.

"We're poised to enter a new era of racing in New Jersey," said Bruce Garland, the head of racing for the New Jersey Sports and Exposition Authority, which operates Monmouth and the Meadowlands.

Elliott has ridden at Monmouth on occasion over the past few years, and done well. In 1999 he won 53 races there.

Since winning the Kentucky Derby and Preakness with Smarty Jones, Elliott said his life hasn't changed much, other than being in the spotlight more.

"I'm the same Stew I've always been as far as riding a horse," Elliott said.

Elliott saw Smarty Jones on Monday at Philadelphia Park and said the colt looked good. Elliott will be in the saddle Friday when Smarty Jones is scheduled to breeze seven furlongs in his final workout before the Belmont on June 5.

"Things look good," Elliott said.

The last Triple Crown winner was Affirmed in 1978.

Ray Lopez, Elliott's agent, said a few more people are interested in using his jockey but mostly he is riding for the same clients.

Under the deal reached with the casino industry, the Meadowlands will offer guaranteed overnight purses of $300,000 during its fall thoroughbred meet for the next four years.

The Meadowlands harness meet will have overnight purses of $180,000 this year. The total will reach $240,000 by 2007.

Freehold Raceway will receive a lump payment of $1 million this year, $1.5 million next year, $1.75 million in 2006 and $2 million in 2007.

"The agreement achieves all our goals," Garland said. "It makes our purses competitive. ... It stabilizes the industry, allowing us to make definite plans, and it achieves peace within the industry in New Jersey, which includes every segment of pari-mutuel racing -- tracks, horsemen, breeders, standardbreds and thoroughbreds."

Under the revised 2004 schedule, the Meadowlands will offer thoroughbred racing from Oct. 1 through Nov. 13. There will be a fall harness meet Nov. 19 through Dec. 17.