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Sports betting in 2018? The odds are long

Dannel P. Malloy said he has suspended talks with the state’s two federally recognized tribes over a new gambling compact — a recognition that the General Assembly is unlikely to return in special session for a debate on sports wagering. “Three weeks ago, we were within days of reaching an agreement,” Malloy said of the tribes. “I don’t think circumstances have changed dramatically, except that the Republicans in the legislature have indicated they don’t want come to come into session on this http://vegasonlineplb.rapspot.net topic. Unless that changes or unless the Democrats say they want to come in, then there wouldn’t be a session. There would be no reason to continue negotiations.” The next governor and new General Assembly take office on Jan.

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Sports betting revenue in N.J. starts slow, but experts like the odds

"I really wouldn't know what to have expected. There's a lot of variables there, when you're only talking about three casinos," said Brian Tyrrell, professor of Hospitality and Tourism Management studies at Stockton University Borgata, Ocean Resort and Bally's were the only casinos of the nine in Atlantic City to accept sports bets in July, along with Monmouth Park Racetrack and the Meadowlands.  Harrrah's, Bally's, Resorts and the Golden Nugget casinos all followed , and will be included in the sports wagering numbers for August.  "Was the one fully up and running the entire month? Was it fully staffed? Was it promoted well? I think we'll have a better indication in about six months," Tyrrell said.  The first sports bets in New Jersey were placed on June 14 at Borgata and at Monmouth Park Racetrack , and grossed $7.3 million through July. Dennis Drazin, president and CEO of Darby Development LLC, which operates Monmouth Park, said he was satisfied with the sports betting results from July, and that the state's early budget predictions fell on the conservative end.  "This is a very healthy start to sports betting given the limited content that is available compared to what it will be come football season," Drazin said. "Every operator I've spoken to is very pleased with the initial start to sports betting and i believe there is way more revenue to come." Tyrrell agrees that football season and playoff season in baseball will draw more people to the books in Atlantic City, but said he never expected sports wagering to be the savior of the gaming market.  "I don't think anyone expects sports betting to be a panacea for Atlantic City," he said. "It can be used more-so as a tool to bring visitors that will spend money elsewhere. It brings folks in and it gives them a reason to come down that they might not come down for and they participate in other activities throughout the resort." Alexis Johnson may be reached at ajohnson@njadvancemedia.com .

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