Resorts casino, Stars Group to join for sports betting in NJ
ATLANTIC CITY, N. J. » New Jersey’s first casino has its second major online sports betting deal in as many days.
On Thursday, it was The Stars Group partnering with Resorts Casino Hotel to announce mobile and online sports betting. That announcement came a day after Resorts and DraftKings did the same, becoming the first gambling companies approved for mobile and online sports betting in New Jersey.
Those two segments of sports betting are seen as the most lucrative and potentially fastest- growing, as has been the case in Europe.
“We believe The Stars Group is uniquely qualified with the experience and insight needed to make sports betting a success in New Jersey,” said Matt Primeaux, a senior vice president at Toronto-based The Stars Group. “We have successfully launched the BetStars brand in many European regulated markets, and we have invested heavily to create a premier global offering.”
For Mark Giannantonio, president of Resorts, it was another major online sports betting announcement in less than 24 hours.
“We’re excited to double down on our already successful partnership with The Stars Group, which owns leading sports books globally, and has always been known and respected for their advanced technology, superior customer experience and cutting-edge security safeguards,” he said.
Referring to his earlier deal with DraftKings, Giannantonio said, “It is an exciting day for New Jersey sports fans.”
The Stars Group-Resorts deal has been submitted to state regulators, but has not yet been approved to begin operations, said David Rebuck, director of the Division of Gaming Enforcement. Numerous gambling companies are seeking approval from state regulators to offer in-person and mobile sports betting before football season begins the first week of September. Additional approvals are expected soon.
Currently, five casinos — Resorts, Borgata, Ocean Resort, Bally’s and Harrah’s offer sports betting, along with the Monmouth Park and Meadowlands racetracks.
New Jersey won a U. S. Supreme Court case in May that cleared the way for all 50 states to legalize sports betting, should they choose.
It began in New Jersey on June 14, with the Borgata casino and Monmouth Park racetrack as the only operators offering it. The Ocean Resort Casino began taking bets on June 28.
During that two week period, the three operators took in $16.4 million in sports bets. Since then, three casinos and an additional track have joined the sports betting market.
The next set of sports betting revenue numbers will be revealed by NewJersey regulators on Aug. 14.