Sports betting frontier bursting

Vegas casino firms see green from afar

Las Vegas-based casino operators are racing to carve out a portion of the multibillion-dollar sports betting market as it becomes legal in more states.

Caesars Entertainment Corp. announced Monday that it is teaming up with Scientific Games to launch land-based sports betting in New Jersey this week and in Mississippi next month. Caesars said it also will launch mobile sports betting in New Jersey before the start of football season.

Meanwhile, MGM Resorts International and Boyd Gaming Corp. said they are forming a partnership that will allow each company to offer mobile sports betting and online gambling in states where only the other operator is present.

The announcements come

BETTING

on the heels of MGM declaring Sunday that it will create a $200 million sports betting and online gaming joint venture with U.k.-based GVC Holdings, one of the world’s largest bookmakers.

In May, the U.S. Supreme Court overturned a ban on sports betting in most states, opening the floodgates to investment in the sector. Annual sports betting handle in the U.S. could reach $58 billion and gaming win $3 billion, according to an April report by Jefferies Financial Group.

New Jersey is the only state to have since authorized sports betting, according to California-based Eilers & Krejcik Gaming, but the group