Sports betting in Atlantic City discussion from the 10th Annual Jersey Shorcast

Sports betting in Atlantic City discussion from the 10th Annual Jersey Shorcast


SCOTUS has shot down PASPA,
and what is the impact gonna be?
So I’m going to open up for the panel to talk about
What is sports betting gonna do for Atlantic City?
Everybody wants to know about that
The crystal ball says, I’m not gonna kid you we’re not going to be ready in two weeks,
like the Meadowlands is talking about.
We’re definitely going to see how
the regulations pan out.
But there is definitely been preparation,
we are very excited
yesterday was a big day for Atlantic City
and the State of New Jersey.
Even without it you come down and
see the crowds in Chickie and Pete’s
and A Dam Good Sports Bar during a Thursday
opening of the NCAA tournament
and it tells you and I’ve been out in Vegas
during those times
and for the Super Bowl and the NCAA tournament
and we will get visitors here.
And they will eat and they will drink
and they’ll place some bets
What that looks like?
I think we’re all waiting to see is
it going to be a lot of a mobile platform?
Or is it going to be a lot of parlay bets?
Or is it going to be strictly on the Eagles
you know covering three and a half points
on the Dallas Cowboys and some of the other
things that you’re used to seeing in Las Vegas.
So I think this is just tip of the iceberg and
it’s definitely good news for Atlantic City.
You know when you look at Las Vegas
and their gaming revenues,
the sports books are not an overwhelmingly
large percent of the gaming revenue.
I think it’s about two percent.
Yeah, it’s it’s fairly small and
even at the bigger sports books,
some of them invest a little bit more on that.
It’s still not cracking that 10%
still in the single digits.
But importantly the individual that that
that that sports book opportunity brings in
is oftentimes traveling with a group of friends
they’re going over and they’re playing the table games,
they’re playing the slots,
they’re eating in the restaurants, drinking in the bars,
taking advantage of the entertainment
and making a you know a real trip out of it, you know?
And like you said you head out to Vegas during that
Superbowl weekend or the NCAA tournament
or any of the finals, and that’s what you see
you see large groups of friends getting back together,
watch their favorite sports teams.
And you know make it make a weekend out of it.
It’s a segment all in its own.
But if and I’ve been to Las Vegas
on and we’ll say any given Sunday. It doesn’t matter,
you’ll see the the bars that you
have to have a reservation for and a minimum spend,
that’s a gaming bar
and the reservations and they’re booked.
You can’t even walk up and get it and walk in.
And so and you walk the streets of Las Vegas on a
Sunday and you’ll see every NFL Jersey represented,
by the hundreds and thousands. It is a huge draw.
So it’s an incremental segment.
It’s a great segment for
Atlantic City to be able to capture.
And I believe that you know
there’s still a lot of legislation
that still has to be worked out.
Things that they are talking about is
they don’t want to see
individual betting and I might be speaking out of turn,
but they don’t want to
they don’t want to see people being able to bet
on who throws the first, who catches the first ball,
who makes the first field goal.
You know the the NFL, and NBA, and NHL and NCAA
they don’t want all that individual stuff that is out there.
You know, if you’re gonna
it’s gonna be one loss on the game.
So there’s still much work and
still much things to be done legislatively
to manage that and
so I really think what they’re trying to do now is
try to come up with a one law for the United States.
So that each individual state doesn’t have different
rules and regulations when it comes to sports gaming.
So I think there’s still more to learn
there’s still more legislation and more governance
that’s going to take place before
this really takes off for anybody.

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