“We are very excited. Yesterday was a big day for Atlantic City and the state of New Jersey,” said Jim Ziereis.
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One of the largest sportsbooks in Atlantic City, featuring 180 seats, a 250 square foot odds board, and massive panoramic LED screens, is conveniently located on the North Tower Casino Floor adjacent to Chickie’s and Pete’s Crab House & Sports Bar and 10 North. As the prized NFL season fast approaches, six of the nine Atlantic City casinos in Atlantic City will allow gamers to place sports bets. Two racetracks - Monmouth Park and the Meadowlands - also. Dec 14, 2020 Atlantic City’s casinos, the three horse tracks that offer sports betting, and the state’s robust internet gambling industry saw nearly $289 million in revenue in November, a figure that does not include money bet on horses.
Ziereis, Tropicana’s vice president for hotel sales, said executives at Atlantic City casinos got a heads up from New Jersey’s Division of Gaming Enforcement long before Monday’s ruling by the U.S. Supreme Court that legalized sports betting in any state.
“A few months ago the Division of Gaming Enforcement brought all the general managers together to bring this up, to say, ‘Hey, the Supreme Court, it looks as though they’re going to pass this. How are you prepared?’ And I can tell you, our property has been prepared in identifying space where that would take place,” said Ziereis.
Ziereis spoke at a panel on shore tourism, sponsored by Stockton University’s Levenson Institute of Gaming, Hospitality and Tourism. Analysts described how Atlantic City casinos, one of two brick and mortar venues authorized under state law to offer sports betting, could grab a chunk of the brand-new market — an estimated $150 million in New Jersey. They said Las Vegas pulls in $250 million a year from sports betting, about two percent of the gaming resort’s revenues, and it’s not from day-trippers.
“You see large groups of friends getting back together and watching favorite sports teams,” said Brian Tyrrell, professor of hospitality and tourism management studies at Stockton University’s School of Business. “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, you know, a real trip out of it.”
“You walk the streets of Las Vegas on a Sunday, and you’ll see every NFL jersey represented by the hundreds of 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 there’s still a lot of legislation that still has to be worked out,” said Jim Wood, president and CEO of Meet AC, the marketing arm of the Atlantic City Convention Center.
Hard Rock and Ocean Resort, Atlantic City’s two newest casinos, have also set aside room for sports betting. They’re both scheduled to open June 28. The casino industry’s expecting a banner summer, but they’re in a race with the tracks, the other venue that can take sports wagers in Jersey. While the Meadowlands’ Jeff Gural says his track’s aiming for a September sports betting debut, Monmouth Park plans to start taking sports bets on Memorial Day.
“It does give an entre to the tracks up north to get a foothold on sports betting, and in that way, attract the clientele into their operations,” said Atlantic City casino industry analyst Anthony Marino. “I can just foresee the lobbying efforts that will begin to take place by those racetrack operators to say, now that we have sports betting, why doesn’t the Legislature give us some slot machines?”
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Marino warned Atlantic City casinos not to dally. But Ziereis says Tropicana’s more focused on the NFL’s season opener.
“I’m not going to kid you, we’re not going to be ready in two weeks,” Ziereis said. “We’re definitely going see how the regulations pan out, but there’s definitely been preparation.”
Senate President Steve Sweeney said he’d like to see the sports betting regulatory law passed and signed by June 30. The casinos would like a good look at those rules before they kick off.
ATLANTIC CITY, N.J. (AP) — New Jersey’s top gambling regulator is threatening to fine sports books operating in his state that ask customers to cancel requests to cash out money from their accounts, saying the practice is ongoing and “unacceptable.”
In some cases, sports books have offered to give players cash bonuses if they cancel withdrawal requests, according to David Rebuck, director of the New Jersey Division of Gaming Enforcement.
In a letter posted Wednesday to the division’s website, Rebuck did not name the sports books who have engaged in this practice, nor did he say how many complaints the division has received of such activity. New jersey legal sports betting.
But he wrote that trying to talk customers out of withdrawing funds from their accounts violates numerous state rules.
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“Patrons who request withdrawals have the right to receive their funds as expeditiously as possible,” he wrote. “Operators should clearly understand that the Division will take regulatory action and impose civil penalties whenever patrons are improperly encouraged or incentivized to rescind their withdrawal requests for the purpose of resuming gaming activity.”
New Jersey has become the national leader in sports betting in the U.S., taking more than $6 billion worth of such wagers last year. In December, its casinos and horse tracks took nearly $1 billion in sports bets, setting the latest in a string of national records for the most money wagered on sports in a single month.
Its regulatory structure is considered to be among the most stringent in the nation, and has served as a model for numerous other states as they adopted their own sports betting legislation over the past three years.
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Still, the head of the Stop Predatory Gambling organization on Friday accused the New Jersey attorney general’s office, which oversees the DGE, of “moral hypocrisy” for launching high-profile litigation against the opioid industry, while treating sports books with much more leniency.
“This is a naked attempt by online gambling operators to get citizens to lose more money,” said Les Bernal, the group’s director. “What New Jersey should be doing is suspending and fining them, not just some long-winded letter threatening future action.”
The attorney general’s office did not immediately respond to a request for comment.
This kind of activity is not limited to New Jersey. The United Kingdom’s Gambling Commission recently ordered its licensees to stop “reverse withdrawal options” until further notice out of concern over gamblers who may engage in excessive betting during coronavirus lockdowns.
New Jersey regulations do not require withdrawals to be processed immediately; an unspecified amount of time can be taken to verify a customer’s identity and investigate any fraud or money laundering concerns.
But as soon as those concerns have been laid to rest, the customer must be given his or her money without further delay, officials said.
“In the period between a withdrawal request and the actual release of funds to the customer, patrons reported contact from providers encouraging or enticing them to reverse the withdrawal request and wager the funds,” Rebuck wrote. “It has been reported by some patrons that they were even offered bonus money to reverse a pending withdrawal request.”
He said such an offer of bonus money would be considered “an aggravating factor” in any disciplinary action against a sports book.
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Richard Schwartz, president of Rush Street Interactive, which operates PlaySugarhouse.com in New Jersey, said his company approved more than 75% of online player cash-out requests “in real time” during the fourth quarter of last year.
“Our automated payout system protects our players by enabling them to cash out quickly so they don’t otherwise cancel their payout requests and continue gambling with their winnings,” he said. Sports betting casino online.
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