- Borgata develops new $11m sports betting lounge in Atlantic City
- Chief Operating Officer (COO) Marcus Glover welcomes the move
- Borgata was the first property in New Jersey to accept sports wagers after PASPA’s defeat in May, 2018
Borgata Hotel Casino Resort & Spa will cough up $11 million for a new on-site sport betting facility, making a committed rush into the newly-regulated segment.
Borgata Enters the Sports Betting Race with $11m Upfront
New Jersey defeated the Professional and Amateur Sports Protection Act of 1992 in May, 2018. Since then, sports betting has been steadily gaining traction around the United States. While not all states are on track to get their own legalized industries, many are already joining.
Located in Atlantic City, NJ, Borgata benefits from the mild local regulatory climate and the high demand for sports betting opportunities. The future betting lounge, however, will not rely exclusively on individuals’ taste for placing wagers.
The facility will feature a bar as well as other amenities designed to accommodate the casual and committed punter. On the occasion of the announcement, Borgata president and Chief Operating Officer (COO), Marcus Glover, commented:
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
Mr. Glover lauded the efforts of Borgata for having stayed “at the forefront of legalized sports betting in New Jersey”. The latest development plan, according the official press release, was an attempt to advance the company’s product with “an innovative gaming and entertainment experience”.
Borgata Makes History with Mobile Betting
In July, 2018, Borgata became the first casino to take a legal sports wager following the resounding success in the U.S. Supreme Court (SCOTUS), doing away with the federal betting ban PASPA. Following the approval of Governor Phil Murphy, Borgata seized the opportunity to make history.
Borgata also launched playMGM, the mobile betting platform to arrive after the freshly-regulated market. The platform was launched with the help of GVC Holdings, another giant on the U.S. sports betting market looking to gain more traction.
The solution offers much of what can be found on branded website casinos, including quick banking options, such as deposits and withdrawals.
Borgata draws on the MGM International’s experience in the sector, with MGM having been involved in various sports betting initiatives in the past 25 years, specifically in Nevada. According to the official data released in the press release, MGM sports wagers in Nevada alone reach 4 million placed units yearly and the sports handle reaches north of $1 billion. MGM has ongoing partnerships the NBA and WNBA, NHL, MLB, as well as the New York Jets.