Churchill Downs Incorporated (CDI) is about to launch a new NJ sportsbook and an online casino this year.
During the report for the third-quarter Bill Carstanjen, the CEO of CDI, announced that the firm will enter the NJ sports betting market before the end of the year.
He claimed that currently CDI is gathering the needed gaming licenses and their associate SBTech is licensing its platform.
CDI Rides on Golden Nugget Casino License
Carstanjen underlined that CDI is looking to expand its business in a couple of states where sports betting is legal and New Jersey is a top priority.
Thanks to the partnership with Golden Nugget in Atlantic City in 2018, CDI will be able to come into the NJ online sports betting industry.
CDI is definitely moving fast, as they plan to be in operation at the beginning of 2019.
The CEO also said that their skins deal with Golden Nugget online casino will enable them to enter the NJ iGaming and sports betting market.
Although CDI doesn’t have an NJ online casino yet, their cooperation with Golden Nugget will enable them to operate their NJ sports betting site on their own.
The features of the newest NJ online casino remain unknown for now, but table games and slot machines are most likely to be included.
Joining the Top NJ Online Casino Golden Nugget
Golden Nugget Online Casino in Atlantic City is among the leaders in NJ sports betting. It’s often on first place in earned revenue.
In July 2018, the NJ online casino earned $9.3 million in revenue. Just a month later, it scored the second-best result in betting history with $9.28 million.
Golden Nugget isn’t stopping at all, with this newly acquired partnership it will be able to excel further and earn even more.
Thomas Winter, the online gaming senior vice president, welcomed warmly Churchill Downs in May. He described it as a reputable operator, who will be an asset to the NJ sports betting market and will unlock more opportunities for Golden Nugget, to reach an even bigger audience in New Jersey.
Churchill Downs is already a leader in legal online horse betting in the U.S. From now on, CDI will utilize Golden Nugget casino as a way to push boundaries in the Garden State.
CDI Is Coming Out to Play on the Saturated NJ Sports Betting Scene
If CDI succeed to enter the NJ online sports betting market until the end of this year, the NJ mobile sportsbooks will become nine in total.
Churchill Downs closed a deal with SBTech, a well-known tech sports betting provider, just a week prior to the agreement with Golden Nugget casino.
Recently, the online NJ sports betting industry has developed rapidly. During the first month of NJ mobile sports wagering – August 2018, online and mobile sportsbooks received $82 million in bets. In September 2018, this number increased to $105 million.
In October 2018, SugarHouse Sportsbook moved its NJ sports betting license from Golden Nugget Casino to Monmouth Park. So the new partnership with CDI will act as a replacement for the NJ online casino.
The reason for the drop was the fact that Golden Nugget isn’t able to provide NBA betting, as its owner Tilman Fertitta also manages the Houston Rockets. Due to this fact, CDI won’t be able to provide betting on NBA games when it finalizes its NJ sports betting product.