Atlantic City’s Golden Nugget almost missed the greatest chance of the decade. Indeed, team ownership may have seen the casino to sit outside the new sports betting ring as we reported last week. But as it stands, Golden Nugget finally stroke luck on their third appeal.
Indeed, their latest appeal resulted in an amendment in the law that will keep the doors open for them. Well, as long as it does not take bets on professional basketball games.
Legal battle in more details.
As you know, Tilman Fertitta owns the Golden Nugget and the Houston Rockets. Under the previous terms, Fertitta needed to sale the Rockets within a year to offer sportsbook. Additionally, it’s important to point out that other AC casinos were in the same predicament as Fertitta. Which, of course, led many to appeal and they got a slight change in the bill. In fact, following the appeal, the law allowed owners of less than 10% to offer sports wager in casinos. But Golden Nugget could not enjoy the second version of the law either. Which led to a third appeal on the ground that their Nevada casino does not take wagers on Rockets’ games. So, of course, the NJ casino was going to follow the same practice. After this, the lawmakers saw clear. And the final legal text now allows them to offer sports betting but not on NBA games.
The casino’s reps expressed gratefulness in a recent press release. In fact, Tom Pohlman, GM of Golden Nugget AC said. “We are grateful to the legislature for listening to our concerns and including the Golden Nugget in the sports betting legislation. We look forward to taking our first bets on professional and college football, baseball, college basketball, soccer, hockey, MMA, etc. “ Additionally, the Golden Nugget added that they hope to convince the lawmakers to change the regulations further with time. So let’s see if the New Jersey lawmakers will follow Nevada’s lead. We sure hope so, as a ban on Professional Basketball will keep the Casino from earning a significant share of sports betting revenues.