Monmouth Park Racetrack held a ceremonial groundbreaking of its trackside Caesars Sportsbook on Tuesday, a 16,000-square-foot facility that can embrace a Shake Shack full-service restaurant and wall-to-wall tv screens displaying all the day’s sports activities motion.
Officers with Darby Growth and Caesars Leisure maintain a ceremonial groundbreaking on the longer term Caesars Sportsbook at Monmouth Park on Might 7, 2024. The New Jersey racetrack in Oceanport was the positioning of the primary authorized sports activities guess within the Backyard State in June 2018. (Picture: Caesars Leisure)
Monmouth Park was house to the primary authorized wager in New Jersey when, on June 14, 2018, Gov. Phil Murphy (D) put $20 on the NHL New Jersey Devils to win the 2019 Stanley Cup (they didn’t).
Monmouth Park opened its William Hill Sportsbook after the US Supreme Courtroom in Might 2018 struck down a federal legislation that New Jersey had contested in federal courtroom, a landmark resolution that opened the floodgates to authorized, regulated sports activities playing throughout the nation.
After Caesars Leisure acquired William Hill, Monmouth Park rebranded its sportsbook to Caesars in early 2022. The racetrack’s sportsbook has remained in a renovated part of the historic grandstand however subsequent 12 months, a bigger standalone guide will complement the house of the Haskell.
Caesars Sportsbook Particulars
Monmouth Park is owned by the New Jersey Sports activities and Exposition Authority (NJSEA) and operated by Dennis Drazin’s Darby Growth, LLC. Drazin and Caesars officers commenced development of the standalone Caesars Sportsbook on Tuesday, which can be situated off the southern finish of the Monmouth Park grandstand.
The forthcoming sportsbook, set to open subsequent 12 months, will function indoor and out of doors seating, a staffed betting window, and 25 self-service wagering kiosks. The power can have an abundance of flatscreen televisions and digital shows to offer unobstructed views of any recreation a visitor comes to look at.
We’re extraordinarily excited to start this subsequent chapter with the upcoming opening of the brand new Caesars Sportsbook at Monmouth Park,” mentioned Drazin. “As we begin our sixth 12 months of sports activities betting, we proceed to see the expansion and enlargement we knew would ultimately occur. This can be an impressive addition to the Monmouth Park facility as our partnership with Caesars continues to evolve.”
Along with its retail sportsbook, Monmouth Park’s partnership with Caesars extends on-line. Bettors can enroll by way of the Monmouth Park web site to determine an internet sports activities wagering account with Caesars Sportsbook.
Monmouth’s Not So Mammoth Income
Drazin rallied state officers to battle for sports activities betting earlier than the 2018 SCOTUS resolution. The longtime horseman mentioned such playing was important to sustaining the state’s equine trade.
Drazin invested in a William Hill lounge lengthy earlier than he was allowed to take bets. The room served as a quasi-sports bar till the 2018 verdict.
Sports activities betting has offered the racetrack with extra income, although it has drastically trailed the Meadowlands Racetrack yearly since betting started. In 2023, Monmouth Park’s sports activities betting operations reported gross income of just a little greater than $21 million, up 3% from 2022.
Together with Caesars Sportsbook, Monmouth Park lends its brick-and-mortar on-line sports activities betting privileges to BetRivers. The New Jersey Division of Gaming Enforcement started breaking down sports activities betting income by operator this 12 months, although Caesars presumably accounted for the majority of the monitor’s $21 million win final 12 months.
The Meadowlands’ sports activities betting companions — FanDuel, Fanatics, and SuperBook — gained greater than $483.5 million from bettors in 2023. Freehold Raceway’s sports activities betting companions, ESPN Guess and betPARX, gained almost $30.3 million.
