New Jersey casinos could operate sports betting
Only four New Jersey casinos would be able to operate sports betting platforms.
US.- New Jersey is debating this week a gaming proposal that could ban sports betting operations in Atlantic City’s casinos, except in one operated by MGM Resorts and another four operated by Caesars Entertainment, according to the newspaper The New York Times. The bill will be voted next Thursday.
Although the bill would officially ban casino operators and executives who own professional sports teams from operating sports betting brands, four casinos would be excluded from the prohibition. As reported by local media, Borgata casino, operated by MGM, which owns the WNBA’s Las Vegas Aces, “would be approved because the team generates less than one per cent of its total annual revenue.”
Meanwhile, “Joshua Harris, who owns the Philadelphia 76ers and the New Jersey Devils, would get in under a clause allowing those who own less than 10 per cent of a casino or gambling company to participate in sports betting. Harris’ Apollo Global Management owns a small percentage of Caesars Entertainment, which in turn owns Harrah’s, Caesars and Bally’s.” the NT Times informed.
New Jersey is soon to approve the sports betting bill after winning the PASPA case that was taken to the US Supreme Court. New Jersey demanded an amendment on the Federal Law to stop the ban that was only allowing four states to approve sports betting legislation. As the Supreme Court ruled in favour of New Jersey, the sports betting industry was federally legalised.
