Groundbreaking Held at Monmouth Park for Trackside Caesars Sportsbook
Monmouth Park Racetrack marked the beginning of a new chapter on Tuesday with a groundbreaking ceremony for its trackside Caesars Sportsbook, a 16,000-square-foot facility featuring a Shake Shack restaurant and numerous television screens showing daily sports action.
This venue, formerly known as the William Hill Sportsbook, held the first legal bet in New Jersey back in 2018 when Governor Phil Murphy placed a $20 bet on the New Jersey Devils to win the Stanley Cup (which they did not). The racetrack opened its sportsbook following the U.S. Supreme Court's decision to overturn a federal law that New Jersey had disputed in court. This landmark ruling allowed for widespread legal and regulated sports betting across the country.
Caesars Entertainment later acquired William Hill, resulting in the rebranding of Monmouth Park's sportsbook to its current name. The renovated grandstand section houses the sportsbook at present, but a separate, larger standalone facility is scheduled to open next year.
Caesars Sportsbook: Features and Amenities
The upcoming Caesars Sportsbook will be located off the southern end of the Monmouth Park grandstand, operated by the New Jersey Sports and Exposition Authority (NJSEA) and managed by Dennis Drazin's Darby Development, LLC. Key features of the sportsbook include indoor and outdoor seating, a staffed betting window, and 25 self-service wagering kiosks. The site will also boast an array of flat-screen televisions and digital displays for optimal viewing of various sporting events.
Drazin expressed his enthusiasm, stating, "We're incredibly excited to kick off this new phase with the upcoming opening of the new Caesars Sportsbook at Monmouth Park. As weenter our sixth year of sports betting, we've seen the growth and expansion we envisioned eventually happening. This will be a fantastic addition to the Monmouth Park facility as our partnership with Caesars progresses."
Monmouth Park also offers online sports betting through its partnership with Caesars Sportsbook. Fans can register on the racetrack's website to establish an account.
Monmouth Park's Modest Revenue from Sports Betting
Drazin campaigned for sports betting with state officials prior to the SCOTUS decision, emphasizing its importance for preserving New Jersey's horse racing industry. He had already invested in a William Hill lounge when betting was legalized in 2018. It served as a makeshift sports bar until the pivotal decision.
Sales figures from Monmouth Park's sportsbook haven't come close to matching those of the Meadowlands Racetrack. In 2023, the sports betting operations at Monmouth Park recorded $21 million in gross revenue, representing a 3% increase from the previous year. BetRivers is one of the racetrack's online sports betting collaborators.
From 2023, the New Jersey Division of Gaming Enforcement began presenting sports betting revenue data per operator, and Caesars presumably accounted for a significant portion of Monmouth Park's $21 million winnings. Meanwhile, the Meadowlands' sports betting collaborators - FanDuel, Fanatics, and SuperBook - reportedly collected $483.5 million in bet winnings, while Freehold Raceway's partners - ESPN Bet and betPARX - generated approximately $30.3 million in revenues.
Read also:
- Remaining contenders down to two in DFB's struggle versus Brazil.
- Law enforcement agencies in various metropolises plan expansive measures for May 1.
- Berlin Transport Senator Schreiner Steps Down over Doctorate Issues
- The Next Development in the DAZN/DFL Billion Euro Controversy
Source: www.casino.org
