Tropicana and Hard Rock Casinos Seek Approval to Commence Sports Betting Operations
Category : News
Tropicana and Hard Rock to soon hop into the New Jersey sports betting mix
New Jersey’s sports betting market is set to soon expand as two Atlantic City casinos have submitted petitions with the state Division of Gaming Enforcement (NJDGE) to commence wagering operations.
According to documents made available by the New Jersey gambling regulator, Tropicana Casino Resort and Boardwalk 1000 LLC, the local branch of Florida gaming and hospitality company Hard Rock International, have recently submitted their petitions, seeking green light to start sports betting operations.
News about Tropicana and Hard Rock joining the New Jersey sports betting mix emerge shortly after the NJDGE published what the regulator described as “stunning” September wagering results. The state’s sportsbook and online betting operations generated revenue of nearly $24 million and handled nearly $184 million in wagers last month.
Both Tropicana and Boardwalk 1000 have submitted petitions for transactional waiver to “commence sports pool and online sports pool operations.” Six of Atlantic City’s nine operational casinos are currently offering sports betting operations. When Tropicana and Boardwalk 1000’s Hard Rock Hotel & Casino Atlantic City join the local sports betting market, Caesars will remain the city’s only casino to be straying from the betting craze that has swept over Atlantic City and New Jersey, following the May 14 ruling of the US Supreme Court that struck down a federal ban on wagering on professional and college sporting events.
New Jersey was the second state to launch legal sports betting in the post-SCOTUS ruling era. State lawmakers approved the necessary regulatory framework a little over a fortnight after the sports betting ban was lifted and first wagers were accepted in New Jersey on June 14.
Tropicana and Hard Rock’s Sports Betting Partners
It can be said that plans for sports betting at Tropicana began being shaped even before the SCOTUS ruling. It was announced this past April that billionaire investor Carl Icahn was selling the casino resort’s parent company Tropicana Entertainment Inc. in an agreement that would see gaming REIT Gaming and Leisure Properties take over the company’s real estate while Eldorado Resorts assume control over its hotel and casino operations.
The transaction, which was valued at around $1.85 billion, was completed earlier this month. Meanwhile, Eldorado announced in the summer that it has forged a partnership with William Hill, under which the US arm of the British bookmaker would become the exclusive sports betting partner of the casino operator. It also became known that the partnership would extend across all properties owned by Eldorado, Tropicana included.
As for Hard Rock International, the company launched its Atlantic City property at the end of June. There were speculations that Hard Rock might not be able to operate sports betting due to its naming rights deal with the Miami Dolphins and their home Hard Rock Stadium.
Asked about their comments on the matter, Hard Rock officials have said that sports betting was something they were definitely interested in and that Hard Rock Atlantic City would offer some form of wagering. It is yet to be seen whether the gambling venue will go live with full-blown betting services or there will be certain limitations to its product.
It was announced last week that Malta-based gambling company Gaming Innovation Group has signed a letter of intent with Hard Rock for the provision of an omni-channel sports betting service at the gaming operator’s Atlantic City property. In August, Hard Rock announced a partnership with Kindred Group for the provision of online sports betting and gaming services. And news emerged in July, that the Florida-headquartered gaming and hospitality giant has joined forces with bet365, the major British bookmaker, for the provision of a sports betting product in the nascent New Jersey gambling market.
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