SPORTS BETTING’S EFFECT ON AC CASINOS’ BOTTOM LINE? MEH!

By Harry Allison

New Jersey gambling regulators have revealed how the state’s new new sports betting did in its first weeks, and the figures show more than $16.4 million in sports bets were made. From that, casinos made almost $3.4 million.

The state made almost $294,000.

The figures include sales from Monmouth Park racetrack, Ocean Resort Casino and the Borgata casino, which all started offering legal sports betting last month.

The Meadowlands racetrack in East Rutherford, N.J., will start taking bets on Saturday.

Atlantic City’s Hard Rock casino is also preparing to offer sports betting as soon as their agreement with British gambling company Bet365 is approved by New Jersey gambling regulators.

Legislators predicted sports betting would raise $20 to $40 million in tax revenue a year. The current rate is lower.

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