Golden Nugget Moves Closer to NBA Wagering
In the United States, individual states offer an array of gambling options. From sports betting to casino gaming, lottery and poker, the options can be endless. In these states, operators must abide by strict rules and regulations to provide such services. In some cases, certain properties may be restricted from offering specific gaming due to circumstances. The Golden Nugget is one such example. The casino has been unable to offer sports betting on NBA games due to the owner of the property being connected to the professional sports organization. That could soon change due to legislation that has been moving forward in the state.
NBA Wagering Possible?
Tilman Fertitta is the owner of the Houston Rockets NBA team as well as the Golden Nugget in Atlantic City. The casino is currently the only one in the region that cannot offer sports betting on NBA games. The original legislation involving sports betting in the state did not allow casino owners to offer betting on sports if they were an owner of a team in that sport industry.
Because of this rule, the Golden Nugget is unable to offer such wagering. Online betting is also restricted. The PlaySugarHouse and BetAmerica brands were also restricted from offering NBA wagering options. SugarHouse decided they didn’t like not being able to offer NBA games so they switched to work with Monmouth Park.
New legislation has now been moving forward in the state that could allow the casino to offer NBA betting. Assembly Bill A5463 was passed in both houses by a vote of 26 to 1. The bill will permit an owner of 10% or more of member team sports governing body to place or accept wagers on certain sports events where other member teams participate.
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If the bill is signed into law by Governor Phil Murphy, then the Golden Nugget is free to offer NBA wagering. While the option will be open to the venue, betting on the team owned by Fertitta will not be allowed.
The restriction is similar to what the company faces in the state of Nevada. While the brand waits to be given the go ahead for NBA betting, they still offer a plethora of options. They will certainly be busy over the next few months as college football is underway and the NFL kicks off their new season in just a few days. Football is always big business for the sports betting industry.
The NBA season is still a few months away, so it is unclear as to how much business the Golden Nugget will do once the option is open to players. Despite not being able to offer NBA wagering, the Golden Nugget continues to be the number one brand when it comes to online gambling.
Once online sports betting grows to include NBA wagering, it will only help the brand to expand their revenue numbers. Month after month, the Golden Nugget pulls in massive amounts of cash, way above their competitors. Over the past few months, second and third place operators like the Borgata and Resorts Casino have been unable to pull within any type of distance to take over the first place spot.
The Golden Nugget continues to surpass the $10 million mark month after month and competitors seem to struggle to even reach the $5 million mark when it comes to online gambling. The company certain has the right formula when it comes to online wagering.