Las Vegas casino giant MGM to premiere $11-million permanent sportsbook at the Borgata this summer
Borgata Hotel Casino & Spa just confirmed reports that have been floating around for the past several weeks that it planned to build a new sports betting facility to complement its existing gambling offering.
The popular Atlantic City resort said in a press release from Wednesday that it will begin construction of a new sports betting facility on its gaming floor that will “integrate an entertaining bar experience with sports wagering.”
The property’s owner, Las Vegas casino giant MGM Resorts International, plans to invest $11 million into what would be a permanent sportsbook.
The Borgata became the first Atlantic City casino to offer legal sports betting. Former NBA star and New Jersey resident Julius Erving placed the first wager at the casino’s temporary sportsbook on June 14, 2018, or just a few days after Gov. Phil Murphy signed the state’s sports betting law.
Following the launch of its physical sportsbook last summer, the Borgata also rolled out the playMGM NJ Sports mobile betting app, product of MGM’s partnership with British online gambling giant GVC Holdings.
The casino said yesterday that it expects its sportsbook to become operational this summer, thus replacing the existing temporary facility. The Borgata is yet to reveal more details about what the permanent sports betting will feature. The temporary one has 10 betting windows, a video wall that screens live sports events, 100 seats with individual monitors, and a bar.
How Has the Borgata’s Sportsbook Performed So Far?
As mentioned earlier, the Borgata was the first property on the famed Boardwalk to start offering sports betting, following the legalization of the practice in New Jersey. The casino went live with wagering on sporting events on June 14, 2018 along with Monmouth Park Racetrack in Oceanport. It then launched its digital betting product on August 22, 2018 to boost its offering.
It can be said that the casino’s sports betting operation has performed quite well so far. According to the latest data released by the New Jersey Division of Gaming Enforcement, the Borgata generated sports wagering revenue of more than $6.17 million in the period between June 14 and November 30, 2018.
The $11-million investment into the property’s permanent sportsbook speaks a lot about MGM’s plans to cement itself in the New Jersey sports betting field. The Las Vegas powerhouse has more than two decades of wagering experience in its domestic market and is looking to take full advantage of last year’s SCOTUS ruling that lifted a federal ban on the activity and bring all of that experience to the East Coast.
Over the span of just a few months, MGM partnered GVC to attempt to claim a leading position in the provision of sports betting in the United States and penned important sponsorship agreements with all but one of the major US professional sports leagues (NBA, NHL, and MLB) and with NFL franchise the New York Jets.
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