The market-leading resort in Atlantic City will invest more than $11 million into the development of a new sportsbook.
The Borgata Hotel Casino & Spa announced its plans Wednesday to add a venue that will combine an entertaining bar environment with legal sports gambling.
The new Borgata sportsbook will debut this summer.
Borgata was the first Atlantic City casino to take a legal sports bet last June.
Since then, Borgata partnered with GVC Holdings to launch its mobile sports betting app, playMGM.
The online sportsbook brought in just under $200,000 in revenue in November. The casino, including its temporary sportsbook, topped more than $1 million in total revenue in sports wagers for the month.
Borgata sportsbook gets new life
As New Jersey sports betting continues to get more popular and grow, AC casinos must adjust to make its sportsbook experience more appealing to potential customers.
With this plan set in stone, Borgata is taking another step forward in solidifying its place among the top of the NJ sports betting market.
Marcus Glover, president and COO for Borgata, was eager to to put the plans in motion:
“Since Borgata arrived in the Atlantic City market more than 15 years ago, we have maintained a steadfast dedication to property growth and development, with our new concept exemplifying this objective. We are proud to have been at the forefront of legalized sports betting in New Jersey and look forward to advancing our product with an innovative gaming and entertainment experience for our guests to enjoy.”
Borgata, owned and operated by MGM Resorts International, is hoping its expertise in sports betting can lead the casino to more success.
It’s unknown what amenities to expect at the new sportsbook; one can imagine it being on par with what MGM has been able to do in Las Vegas.
MGM has more than 25 years of experience in Nevada sports wagering. Its resorts pull in an annual handle of more than $1 billion.
Closing the gap in NJ sports betting
Despite having the ability to bet on sports within the casino, Borgata didn’t have a place dedicated strictly to being a sportsbook — until now. It has been using its pre-existing racebook as a temporary fixture.
This could be a large part of the discrepancy between the Borgata sportsbook revenue compared to others in the city.
The brand new William Hill Sportsbook at Ocean Resort Casino has been doing substantially better than Borgata. Its 7,500-square-foot area has been extremely profitable and has gotten great reviews.
Ocean’s retail book earned revenue of nearly $2 million in November, more than double Borgata.
By committing to a permanent area worth $11 million, Borgata is making a hard push to challenge Ocean. It hopes to claim the top spot in Atlantic City sports betting. Perhaps the new venue will differentiate Borgata from its peers and give bettors an unparalleled experience.