Golden Nugget and CDI Launch Sportsbook in New Jersey

Golden Nugget Casino in Atlantic City, New Jersey has formed a partnership with Churchill Downs Incorporated to launch an SBTech powered brand, called BetAmerica. The sportsbook will include real-money betting on sporting events and casino games throughout the state.

Apart from wagering on a wide selection of professional leagues, players will also be allowed to place in-play bets, as well as before the game. Early cashout features and extra bonuses are also included into the platform, whose slots and table games are backed by internationally acclaimed software suppliers such as Netent, IGT, Everi and Spin Games.

Bill Carstanjen, CDI CEO (Churchill Downs Incorporated) commented:

“We look forward to delivering innovative, state-of-the-art products that we believe will exceed our customers’ expectations by leveraging our deep experience as the leader in online horse race wagering through our TwinSpires platform.”

CDI Spreading Across Multiple Markets

Forming a collaboration with Golden Nugget is not the only venture CDI has signed in the previous months. As a matter of fact, the company had first formed a partnership with SBTech in May 2018, allowing it to launch full-scale sports betting in the United States, mainly focusing on Pennsylvania and New Jersey.

The sportsbook has been active in Mississippi since August, as it launched with two well-established venues – Harlow’s Casino Resort & Spa in Greenville and Riverwalk Casino Hotel in Vicksburg.

In addition, the company is also ready to go live with its BetAmerica brand in other states, including New York and Colorado, as Saratoga Casino Holdings owns both the Saratoga Springs and Black Hawk, located in these territories.

New Jersey Tops $1 Billion in Sports Wagering

As recent reports have revealed, the northeastern US state has reached $1 billion in gross revenue from sports betting in 2018. The territory’s retailers have gained $319.2 million from bets in December alone, and many operators are now looking for ways to attract new audiences and more wagers.

Aside from CDI, other leading sportsbooks in the country, FanDuel and DraftKings, are also successfully dominating the market, earning approximately $3.6 million in December or $6.7 million respectively.

Now, although the numbers are showing a completely different picture, at least when it comes to massive annual turnovers, the New Jersey Division of Gaming Entertainment has recently set a limit on all wagers to $5 million.

The latest measure is targeting casinos that operate sportsbooks where high-roller bets could exceed this enormous amount of money. To date, there have been two multimillion-dollar bets – one made by a Las Vegas gambler, Billy Walters ($3.5 million on New Orleans Saints winning the 2010 Superbowl) and billionaire businessman, Carl Icahn ($2.4 million bet on San Francisco 49ers win in 1995 Superbowl).

Icahn is also one of the major investors linked with the purchase of Caesars Entertainment.

Source:

“Churchill Downs goes live with BetAmerica in New Jersey”, igamingbusiness.com, February 11, 2019.