Have You Heard That Churchill Downs Has Teamed Up with Golden Nugget for New Jersey Sports Betting Venture? Some of the biggest players in the world of real money gambling are wasting little time in making plans to capitalize on a recent Supreme Court ruling affecting the legalization of sports betting in the United States. This week’s ruling by the highest court in the US overturned the provisions of anti-sports betting legislation on a federal level that has been on the Sports books since 1992.
The most glaring result of this decision turns the legislation of sports betting over to individual states within the confines of their borders. Legal sports betting in Nevada was grandfathered into the Professional and Amateur Sports Protection Act of 1992 (PASPA) and New Jersey was the first state to take up the fight to expand this realm in 2012.
When Will Churchill Downs Team Up with Golden Nugget for New Jersey Sports Betting?
Led by then Governor Chris Christie, the Garden State battled the major sports leagues all the way to the Supreme Court to open the door to legal sports betting in all 50 states. It has been reported that 20 states have already introduced some form of legislation to address the issue of legally betting on sports within their borders.
However, right now New Jersey is already way ahead of the game with states such as Pennsylvania, Mississippi, West Virginia and Delaware not all that far behind. Monday’s court decision basically legalizes a 2014 New Jersey law that permitted sports betting at racetracks and casinos within the state.
Churchill Downs Is Famous For The Kentucky Derby
According to a report by Matthew Belvedere for CNBC.com, Churchill Downs in Louisville of Kentucky Derby fame has created a business alliance with Golden Nugget Atlantic City to enter that established casino gambling market with sports betting. The goal of this partnership is to capitalize on this ruling in New Jersey with a sports betting venture that would include brick and mortar facilities such as horse racing tracks and casinos as well as online sports betting applications.
Will Churchill Downs Enter New Jersey For Just Sports Betting Or Online Casino Gambling?
At the same time, this report also relayed information on a Churchill Downs’ partnership with SBTech to utilize an integrated sports betting platform for its new gaming endeavors. SBTech is a global entity with offices in London and Tel Aviv. The immediate goal of this partnership is to help Churchill Downs enter New Jersey and Pennsylvania for sports betting and online gaming. Second on the list is an expansion into Mississippi for legal betting on sports.
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About The Golden Nugget Casinos Strategic Alliance With The Horse Racing Betting Giant
The overall goal with both of these strategic alliances has the horse racing giant up and running as a sports gambling entity in New Jersey by the first quarter of 2019. Churchill Downs’ presence in Pennsylvania as a sports betting entity will be aided by February’s acquisition of Presque Isle Downs & Casino located in the Northwest corner of the state. The plan for expansion in Mississippi sports betting revolves around its current ownership of two brick-and-mortar casinos.
Churchill Downs’ actions this week have been in the works for months in hopes of a favorable decision by the Supreme Court on this issue. You would have to think this is just the first of any number of strategic alliances that will be formed as the legal sports betting industry continues to take shape across the United States in the coming months.