NBA Betting Could Be The Boost Golden Nugget Atlantic City Needs

• Land-based revenue at the Golden Nugget year-to-date is $702, as many bettors opt for non-restricted books.
• The revenue collected by the Golden Nugget, both online and retail, represent one-tenth of a percent of every books’ revenue.
• Betting on the NBA at the Golden Nugget Las Vegas is permitted just as long as action on the Houston Rockets is not accepted.

ATLANTIC CITY, N.J. – A new sports betting bill was introduced on Monday in New Jersey to remove restrictions surrounding NBA betting.

Sponsored by Assemblyperson Raj Mukherji, NJ A 5463 has already been given a favorable opinion by the Appropriations Committee and undergone its second reading on the Assembly floor.

In attempts to solidify the chances of it passing, Senator Patrick J. Diegnan (D-Middlesex) has introduced measure NJ S 3972 in the Senate as well.

What Are The Details Of The New Jersey Bill?

This measure would loosen the restrictions at the Golden Nugget for NBA betting. Currently, the sportsbook is prohibited from accepting action on the professional basketball league due to the casino’s owner, Tilman Fertitta, also being the majority owner of the Houston Rockets.

Fertitta owns the Golden Nugget in Las Vegas as well, which accepts action on NBA with the exception of games involving his Rockets. A similar structure would be presented in New Jersey.

“New Jersey’s sports wagering industry is new and fledgling, but if we take the handcuffs off, it could surpass Nevada as the largest market in the country within a few years,” said Mukherji.

This bill would allow for any licensed gambling facility to accept action, even if the owner of the casino owns 10% or more of a professional sports team. As is stands, the Golden Nugget is the only sportsbook in New Jersey under these circumstances.

The allowance extends from the retail sportsbook at Huron Ave. to BetAmerica, an online sports betting platform which is a skin of the Golden Nugget.

“I don’t see the point of leaving out a potential significant participant in this new industry if sufficient regulation and integrity protections are in place,” said Mukherji. “Nevada has long allowed this same arrangement.”

The lawmakers will have plenty of time to discuss this measure, as the NJ legislature does not set an adjournment date.

News tags: Assemblyperson Raj Mukherji | BetAmerica | Golden Nugget AC | Houston Rockets | Jr. | NBA | New Jersey | NJ A 5463 | NJ S 3972 | Sen. Patrick J. Diegnan | Tilman Fertitta