Resort Casino Hotel has withdrawn from operating an online sportsbook starting yesterday, Feb. 14. The casino hotel offered sports betting on its online platform, ResortsCasino.com sportsbook. Although it has closed its sports betting platform, the casino will still operate live dealer casino games and interactive table games and slots.
Meanwhile, players will still have access to the online sportsbook until Mar. 1, 2022. This will allow bettors to withdraw their funds from the sportsbooks and follow their open bets.
For now, the sportsbook is not processing new bets. Once the sportsbook grades open bets, it will release wins to respective winners. Then, bettors can withdraw their funds through their preferred payment method.
Resort Online Casino is powered by NYX Gaming, a subsidiary of Scientific Gaming. This explains why the online casino part of the casino brand is not affected as a different third-party software developer powers it.
Resorts Online Casino Is Performing Better Than Its Land-Based Property
Resorts online casino is performing better than its land-based property in Atlantic City. In 2021, the Digital interactive unit and online sportsbook generated over $450 million. On the other hand, the land-based casino produced only $168.6 million.
Resorts came in second on the best online gaming platform in New Jersey. MGM Resorts/Borgata came in first with almost $500 million generated from online gaming.
Besides the casino’s online sportsbooks, the Resorts operating license was also extended to several other sportsbooks operators. FOX Bet, Barstool Sportsbook, and DraftKings were tied to the Resorts gaming license in New Jersey to offer online sports betting in the state. Although the casino has closed its online sportsbook, it has not entirely lost.
In fact, it will continue earning some revenue thanks to the ties it has created with DraftKings, FOX Bet, and Barstool. Resorts have an agreement with the three sportsbooks because they use its license to operate in New Jersey. However, details about how much revenue share it gets from each are not public knowledge.
The closure of ResortsCasino.com may have been a result of several factors. But, the primary factor could be the low income that the sportsbook generated.
Meanwhile, those who still love placing bets with Resorts Casino can do so at the Resorts’ physical property. DraftKings runs the casino’s land-based sportsbook and will continue to do so.
The on-site sportsbook is seated on a 5k square foot venue. It has 18 betting booths, a VIP seating area, and a 15 foot HD video wall. Also, the venue has a food and beverage joint.
Sports Betting Industry Continues to Thrive
The American sports betting industry is thriving. Today, 30 states have legalized sports betting, with more expected to legalize betting this year.
With this growth, people would have expected Resorts Casino to retain its online sports betting platform. Yet, the casino’s decision did not surprise most analysts as they predicted consolidation in the industry.
Today, more and more brands want a share of the sports betting market. Besides big brands such as DraftKings, Caesars, BetMGM, and FanDuel, other operators including Tipico, BetRivers, and PointsBet have acquired a significant market share.
According to Brendan Bussman, the acquisition and mergers of sports betting platforms will continue vigorously. Brendan is the director of government affairs for Global Market Advisors. His firm is a research consultancy for hospitality, gaming, and sports.