New Jersey may take sports bets Thursday, and MGM is ready

Updated June 11, 2018 - 10:36 pm

New Jersey Gov. Phil Murphy signed sports wagering legislation Monday, and Las Vegas-based MGM Resorts International is ready to go all in.

The company’s Borgata resort in Atlantic City is expected to be among the first in the state to offer sports bets. Murphy is expected to place the state’s first bet Thursday at Monmouth Park Racetrack in Oceanport near the Jersey shore. A spokesman for Murphy declined to say what wager he’d be making.

“Borgata is pleased the governor has signed the New Jersey sports wagering legislation and we are moving ahead with all possible speed to begin accepting legal sports bets as soon as required regulatory approvals are in place,” an MGM spokesman said in an emailed statement.

“Having spent decades successfully operating sportsbooks in Nevada, building trust with regulators, MGM Resorts is positioned to be a leader in sports wagering,” the statement said. “Sports and sports betting are key entertainment experiences that drive ongoing consumer engagement. The MGM brand has a strong association with sports and sports betting and is well recognized by consumers.”

Minimal World Cup impact

While nationwide sports wagering advocates have said legalized sportsbooks could dent profits of illegal operators, a Las Vegas industry analyst said don’t expect there to be much impact on the black market for World Cup betting. The global soccer event begins later this week.

“The effect is likely to be relatively minimal,” said Chris Grove, managing director of sports and emerging verticals for Eilers & Krejcik Gaming.

“Nevada was already baked in. Delaware is going to be small and New Jersey will still be finding its footing during that period,” Grove said. “But certainly if you flip the calendar forward to the next World Cup, I think by that point you’ll have enough states on line in a regulated market that you’ll really see a meaningful impact.”

Murphy, a Democrat, signed the bill just three weeks after the state won a U.S. Supreme Court victory paving the way for all 50 states to allow sports gambling. The new law allows licensed casinos and racetracks to offer sports betting in a taxed, regulated setting. The bill unanimously passed the state New Jersey Legislature last week.

With Delaware and New Jersey following Nevada’s lead in allowing single-game sports bets, other states are close behind. The most likely states to be next include Mississippi, West Virginia, Pennsylvania, Illinois and Oregon, according to Eilers & Krejcik.

Most other Atlantic City casinos, along with Freehold Raceway, also plan to offer sports betting but have not laid out a timetable to begin.

No Rockets bets

The Golden Nugget, which won’t be able to take bets on pro basketball because its owner also owns the NBA’s Houston Rockets, said it would begin taking bets on other sports by the time football season begins in September, as did the Meadowlands Racetrack in East Rutherford, near New York City.

Online wagering on sports won’t take effect for another month, but gamblers able to place a bet in person can line up to make wagers on the opening matches of World Cup soccer, the U.S. Open golf tournament, or a variety of Major League Baseball games.

“Our casinos in Atlantic City and our racetracks throughout our state can attract new business and new fans, boosting their own long-term financial prospects,” Murphy said. “This is the right move for New Jersey and it will strengthen our economy.”

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter. The Associated Press contributed to this story.

ad-high_impact_4
Sports Betting Spotlight Videos
Sports Betting Spotlight: College Football Week 8
Todd Dewey, Kelly Stewart and John Lukasik pick their best bets for week 8 of the college football season.
Sports Betting Spotlight: NFL Week 7
Todd Dewey, Kelly Stewart and John Lukasik pick their best bets for week 7 of the NFL football season.
Sports Betting Spotlight: College Football Week 7
Todd Dewey, Kelly Stewart and John Lukasik pick their best bets for week 7 of the college football season.
Sports Betting Spotlight: College Week 6
Todd Dewey, Kelly Stewart and John Lukasik pick their best bets for week 6 of the college football season.
Sports Betting Spotlight: NFL Week 5
Todd Dewey, Kelly Stewart and John Lukasik pick their best bets for week 5 of the NFL football season.
Sports Betting Spotlight: College Week 5
Todd Dewey and John Lukasik go over their picks for week five of college football.
Sports Betting Spotlight: NFL Week 4
Todd Dewey and John Lukasik go over their picks for week four of the NFL.
Sports Betting Spotlight: College Football Week 4
Todd Dewey, Kelly Stewart and The Cromwell sports book director, John Lukasik go over their picks for week four of college football.
Sports Betting Spotlight: NFL Week 3
Todd Dewey, Kelly Stewart and The Cromwell sports book director, John Lukasik go over their picks for week three of the NFL.
Sports Betting Spotlight: Canelo vs. GGG
Todd Dewey, Kelly Stewart and The Linq Hotel sports book director, John Lukasik go over the lines and their picks for Canelo vs. GGG 2.
Sports Betting Spotlight: College Football Week 3
Todd Dewey, Kelly Stewart and The Linq Hotel sports book director, John Lukasik go over their picks for week three of college football.
Sports Betting Spotlight: NFL Week 2
Todd Dewey, Kelly Stewart and The Linq Hotel sports book director, John Lukasik go over their picks for week two of the NFL.
Sports Betting Spotlight: NFL Week 1
Todd Dewey, Kelly Stewart and Matt Holt go over their picks for week one of the NFL.
Sports Betting Spotlight: College Week 2
Todd Dewey, Kelly Stewart and USIntegrity president Matt Holt goes over their picks for week two of college football.
Sports Betting Spotlight: New York Giants
Todd Dewey, Kelly Stewart and Sunset Station sports book director Chuck Esposito go over the lines for the 2018 New York Giants season.
Sports Betting Spotlight: New York Giants
Todd Dewey, Kelly Stewart and Sunset Station sports book director Chuck Esposito go over the lines for the 2018 New York Giants season.
Sports Betting Spotlight: Buffalo Bills
Todd Dewey, Kelly Stewart and Sunset Station sports book director Chuck Esposito go over the lines for the 2018 Buffalo Bills season.
Sports Betting Spotlight: New York Jets
Todd Dewey, Kelly Stewart and Sunset Station sports book director Chuck Esposito go over the lines for the 2018 New York Jets season.
Sports Betting Spotlight: Miami Dolphins
Todd Dewey, Kelly Stewart and Sunset Station sports book director Chuck Esposito go over the lines for the 2018 Miami Dolphins season.
Sports Betting Spotlight: Atlanta Falcons
Todd Dewey, Kelly Stewart and Wynn Sports Book Director Johnny Avello go over how the Atlanta Falcons will perform in the 2018 season.
Sports Betting Spotlight: Carolina Panthers
Todd Dewey, Kelly Stewart and Wynn Sports Book Director Johnny Avello go over how the Carolina Panthers will perform in the 2018 season.
Sports Betting Spotlight: New England Patriots
Todd Dewey, Kelly Stewart and Sunset Station sports book director Chuck Esposito go over the lines for the 2018 New England Patriots season.
Sports Betting Spotlight: Tampa Bay Buccaneers
Description: Todd Dewey, Kelly Stewart and Wynn Sports Book Director Johnny Avello go over how the Tampa Bay Buccaneers will perform in the 2018 season.
Sports Betting Spotlight: New Orleans Saints
Todd Dewey, Kelly Stewart and Wynn Sports Book Director Johnny Avello go over how the New Orleans Saints will perform in the 2018 season.
Sports Betting Spotlight: Houston Texans
Todd Dewey, Kelly Stewart and Wynn Sports Book Director Johnny Avello go over how the Houston Texans will perform in the 2018 season.
Sports Betting Spotlight: Tennessee Titans
Todd Dewey, Kelly Stewart and Wynn Sports Book Director Johnny Avello go over how the Titans will perform in the 2018 season.
Sports Betting Spotlight: Indianapolis Colts
Todd Dewey, Kelly Stewart and Wynn Sports Book Director Johnny Avello go over how the Indianapolis Colts will perform in the 2018 season.
Sports Betting Spotlight: Jacksonville Jaguars
Todd Dewey, Kelly Stewart and Wynn Sports Book Director Johnny Avello go over how the Jacksonville Jaguars will perform in the 2018 season.
Sports Betting Spotlight: Detroit Lions
Sports Betting Spotlight host Todd Dewey, Kelly Stewart and CG Analytics Oddsmaker Will Bernanke go over the odds for the Detroit Lions 2018 season.
Sports Betting Spotlight: Chicago Bears
Sports Betting Spotlight host Todd Dewey, Kelly Stewart and CG Analytics Oddsmaker Will Bernanke go over the odds for the Chicago Bears 2018 season.
Sports Betting Spotlight: Green Bay Packers
Sports Betting Spotlight host Todd Dewey, Kelly Stewart and CG Analytics Oddsmaker Will Bernanke go over the odds for the Green Bay Packers 2018 season.
Business
Bellagio, MGM Resorts International’s luxury hotel turns 20
The more than 3,000-room Bellagio hotel is situated on the site of the former Dunes Hotel. The Dunes was imploded in 1993, and construction of the Bellagio started in 1996. It cost $1.6 billion to build, making it the most expensive hotel in the world at the time. The Bellagio was former Wynn Resorts Ltd. Chairman and CEO Steve Wynn’s second major casino on the Strip after The Mirage. MGM Resorts International acquired the property from Steve Wynn in 2000. (Tara Mack/Las Vegas Review-Journal)
Facial recognition software at G2E – Todd Prince
Shing Tao, CEO of Las Vegas-based Remark Holdings, talks about his facial recognition product. (Todd Prince/Las Vegas Review-Journal)
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Bobby Baldwin to leave MGM
MGM Resorts International executive and professional poker player Bobby Baldwin is set to leave MGM.
Caesars has new armed emergency response teams
Caesars Entertainment Corp. has created armed emergency response teams. They are composed of former military and law enforcement officials. "These teams provide valuable additional security capabilities,” Caesars spokeswoman Jennifer Forkish said. Caesars is hiring Security Saturation Team supervisors, managers and officers, according to LinkedIn. The company did not say how many people it plans to hire for the units. (Las Vegas Review-Journal)
Las Vegas, airlines prepare for CES
CES in January is expected to attract more than 180,000 attendees. (Las Vegas Review-Journal)
AGS partners with Vegas Golden Knights
AGS is the nation’s second-largest manufacturer of Class II slot machines used primarily in tribal jurisdictions. It announced a marketing partnership with the Vegas Golden Knights NHL team. (Las Vegas Review-Journal)
Lehman Brothers bet big on Las Vegas
Lehman Brothers collapsed 10 years ago, helping send the country into the Great Recession.
Fremont9 opens downtown
Fremont9 apartment complex has opened in downtown Las Vegas. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Ross & Snow launches in Las Vegas
Luxury shoe brand Ross & Snow has opened in Las Vegas, featuring "functional luxury" with premium shearling footwear. (Bailey Schulz/Las Vegas Review-Journal)
Remote Identification and Drones
DJI vice president of policy and public affairs discusses using remote identification on drones. (Bailey Schulz/Las Vegas Review-Journal)
Drones and public safety in Nevada
Two representatives in the drone industry discuss UAV's impact on public safety. (Bailey Schulz/Las Vegas Review-Journal)
Frontier Airlines to launch flights from Las Vegas to Mexico
Frontier, a Denver-based ultra-low-cost carrier, will become the first airline in more than a decade to offer international service to Canada and Mexico from Las Vegas when flights to Cancun and Los Cabos begin Dec. 15. (Rick Velotta/Las Vegas Review-Journal)
MGM Resorts International CEO Jim Murren addresses Oct. 1 lawsuits
MGM Resorts International Chairman and CEO Jim Murren addresses criticism his company has received for filing a lawsuit against the survivors of the Oct. 1 shooting. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International opens the doors on MGM Springfield
Massachusetts’ first hotel-casino opens in downtown Springfield. The $960 million MGM Springfield has 252 rooms and 125,000-square-feet of casino. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International prepares to open MGM Springfield
Las Vegas-based MGM Resorts International gave news media and invited guests a preview of the $960 million MGM Springfield casino in Massachusetts. The commonwealth's first resort casino will open Friday, Aug. 24. (K.M. Cannon/Las Vegas Review-Journal)
A Walk Through Circus Circus
It only takes a short walk through Circus Circus to realize it attracts a demographic like no other casino on the Strip: families with young children. (Todd Prince/Las Vegas Review-Journal)
Morphy Auctions, a vintage slot machines seller, wants gaming license
Vice president Don Grimmer talks about Morphy Auctions at the company's warehouse located at 4520 Arville Street in Las Vegas on Thursday, Aug. 16, 2018. (Rick Velotta/Las Vegas Review-Journal)
Nevada's venture capital money doesn't stay in state
Zach Miles, associate vice president for economic development for UNLV, said there’s venture money in Southern Nevada, “but trying to find the right groups to tap into for that money is different.” According to a 2017 report from the Kauffman Foundation, Las Vegas ranked number 34 out of 40 metropolitan areas for growth entrepreneurship, a metric of how much startups grow. With a lack of growing startups in Las Vegas, investment money is being sent outside of state borders. The southwest region of the U.S. received $386 million in funding in the second quarter, with about $25.2 million in Nevada. The San Francisco area alone received about $5.6 billion. (source: CB Insights)
Neon wraps can light up the night for advertising
Vinyl wrap company 5150 Wraps talks about neon wraps, a new technology that the company believes can boost advertising at night. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nevada on the forefront of drone safety
Dr. Chris Walach, senior director of Nevada Institute for Autonomous Systems, talks to a reporter at NIAS's new Nevada Drone Center for Excellence of Public Safety, located inside the Switch Innevation Center in Las Vegas. K.M. Cannon Las Vegas Review-Journal @KMCannonPhoto
Motel 8 on south Strip will become site of hotel-casino
Israeli hoteliers Asher Gabay and Benny Zerah bought Motel 8 on the south Strip for $7.4 million, records show. They plan to bulldoze the property and build a hotel-casino. Motel 8 was built in the 1960s and used to be one of several roadside inns on what's now the south Strip. But it looks out of place today, dwarfed by the towering Mandalay Bay right across the street.
TOP NEWS
News Headlines
Add Event
Home Front Page Footer Listing
Circular
You May Like

You May Like