Atlantic City’s largest casino, the Borgata Hotel Casino & Spa is set to expand its sports betting business with a brand new sports bar venue costing more than $11 million.
The new venue which the casino is calling it a “destination bar” is scheduled to open this summer. The casino stated in an announcement that the new venue will integrate an “entertaining bar experience with sports wagering.” Currently, Borgata conducts its sports betting offering in a small temporary space.
The construction of this new venue will begin next week, the luxury resort announced Wednesday.
“Since Borgata arrived in the Atlantic City market more than 15 years ago, we have maintained a steadfast dedication to property growth and development, with our new concept exemplifying this objective,” said Marcus Glover, President & Chief Operating Officer for Borgata Hotel Casino & Spa in a press release.
“We are proud to have been at the forefront of legalized sports betting in New Jersey and look forward to advancing our product with an innovative gaming and entertainment experience for our guests to enjoy,” Glover added.
Borgata made history last June by becoming the first casino in New Jersey to accept a legal wager following the landmark ruling by the US Supreme Court paving the way for all 50 states to legalize sports betting. The first bet came just three days after the state’s Governor, Phil Murphy, signed the sports betting bill passed unanimously by the state legislature.
The property as a part of MGM Resorts International, also launched the playMGM NJ Sports mobile betting app within the Garden State, in partnership with GVC Holdings on August 22. The app features a full range of US and selected international sports found on branded website casinos, including quick deposit and withdrawal options from any location in New Jersey. The sports betting app also features a single wallet enabling customers to view their balances and apply available funds to their choice of game (sports betting, casino or poker products).
DraftKings was the first operator to launch mobile and online sports betting in the state.
Ever since the US Supreme Court ruled that the 1992 Professional and Amateur Sports Protection Act (PASPA) was unconstitutional in May last year, a number of casinos have invested millions to expand their sports betting opportunities.
The Ocean Resort Casino opened its sportsbook along with William Hill US at a cost $6 million in September. The sportsbook features a 7500 square foot facility right in the center of the casino floor surrounded by a wall of television screens and a number of large semi-circular booths, Many other casinos too plan to expand including Tropicana and Harrah’s, Resorts Casino, and Bally’s.
From mid-June to the end of November, sports bettors wagered $928 million of which $389 million was wagered at land-based sportsbooks and $540 million online. In November, the Meadowlands Racetrack was the land-based venue that generated the most revenue from its sportsbook ($2.6 million) representing 38% of all revenue collected, while Ocean Resorts generated second highest revenue of $1.9 million.
Numbers for December are expected to be announced next week by New Jersey Division of Gaming Enforcement.
