Sports betting lawsuit in New Jersey close to its end

A lawsuit regarding a sports betting site in New Jersey and whether a developer can open a sportsbook there could be resolved this month.

US.- Cherry Hill Towne Center Partners continues to push to open a sportsbook at a former New Jersey racetrack. However, it’s locked in a legal dispute with Greenwood Racing, which wants to prevent that from happening.

The former Garden State Park in Cherry Hill now hosts a mixed-use residential and retail centre. Cherry Hill Towne Center Partners developed it and wants to launch a sportsbook at the former racetrack.

Greenwood says that a 1999 document prevents anyone else from allowing gambling there and is seeking a preliminary injunction. Regardless, Cherry Hill Towne Center Partners wrote that it should be able to apply for a state license.

During this month, the judge could end the legal battle and decide whether the company can launch the operation. They hope to open their sports betting operations in New Jersey and await the ruling.

The developer “unequivocally is obligated to disclose to the New Jersey Racing Commission the existence of the restrictive covenant at issue in this case and the existence of this lawsuit,” Greenwood says.

Sports betting revenue

The sports betting segment is growing fast and results are already in sight. During May, and for the first time ever, sports betting in New Jersey posted more money bet than Nevada did.

According to figures released by state regulators, sportsbooks took US$318.9 million from New Jersey’s sports betting. That beat Nevada by over US$1 million, as it only reached US$317.4 million over the same period.

“We all knew it would be successful,” Governor Phil Murphy stated. “However, I don’t think anyone expected how quickly New Jersey would come to dominate the growth in the market. Or how advantageously New Jersey would be positioned to dominate the entire marketplace,” he added. 

After that, the segment only continued to grow.