NJ online sportsbooks now number a baker's dozen

Lucky No. 13 In New Jersey: Golden Nugget Launches NJ Online Sportsbook

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Fresh off a record-setting January, the New Jersey online gambling market is expanding once again.

On Tuesday, Golden Nugget unveiled a new digital sportsbook within its industry-leading NJ online casino platform. It is the 13th NJ online sportsbook, now outnumbering legal brick-and-mortar locations by three. Golden Nugget has a physical sportsbook on property inside of its Atlantic City casino, too.

The Golden Nugget online sportsbook is live for desktop and mobile devices, including iOS and Android.

Another edge for NJ sports betting

Bettors in New Jersey have no shortage of options these days. The addition of another sportsbook app comes as the NBA Playoffs and 2019 MLB season lurk right around the corner.

But because Golden Nugget Owner Tilman Fertitta also owns the Houston Rockets, the sportsbook cannot take action on NBA games, under NJ regulations.

The expansion will add more fuel to an already-thriving NJ online sports betting market, one which generated $15.5 million in revenue during January — 82 percent of the total across all channels.

As if it needs help, sports betting should also help pad Golden Nugget’s lead among NJ online casinos. It’s already lapped the field, even without a virtual sportsbook until this week.

Golden Nugget accounted for more than $12 million of the record-setting $31.7 million in revenue for January, its second-straight month in eight figures. Including the revenue from its digital partners, competing operators are just now starting to find the $5 million milestone.

Read an in-depth breakdown of NJ online gaming revenue here.

Caesars’ merger still on the table?

Over the weekend, Bloomberg reported that Fertitta purchased about 4 million shares (less than 1 percent) of Caesars Entertainment stock.

The purchase might signal the Houston billionaire’s commitment to a potential merger in the future. Fertitta floated the idea of Caesars acquiring Golden Nugget last year — a move which was quickly rejected.

According to the Houston Business Journal, Fertitta’s proposal did not include the Houston Rockets, which he bought for $2.2 billion. That ownership, incidentally, precludes Golden Nugget from booking action on NBA games in New Jersey.

Caesars CEO Mark Frissora is scheduled to step down later this year, and reports indicate that investor Carl Icahn is pushing for a sale of the company.

- Nick comes from West Texas where he graduated from Texas Tech University with a degree in psychology. After a five year stint in Chicago where he wrote about local politics and graduated with a master’s degree in journalism from Columbia College Chicago, he moved to Washington, D.C. to write about issues related to gambling policy, sports betting and responsible gaming.
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