New Jersey officials warned its racetracks that they "must hold off on accepting wagers on sports games until Gov. Phil Murphy signs newly passed legislation to authorize such betting," according to Arco & Johnson of the Newark STAR-LEDGER. A source said that Murphy "likely won't sign the bill until next week at the earliest." In the bill that cleared both the state Senate and Assembly on Thursday, lawmakers "removed a provision that would have penalized anyone who opened a sports betting operation before Murphy signs the measure into law." With that, Monmouth Park had "discussed being ready to accept bets" as soon as Friday at 5:00pm ET. But the New Jersey Racing Commission "put the state's three racetracks on notice that they need to wait" for Murphy's approval. In other words, the commission put racetracks on notice that they are all "required to have a vendor license and that any racetrack that accepts bets before the bill is signed into law will have to have those bets reviewed -- which would delay their licenses." Monmouth Park Racetrack operator Dennis Drazin "stressed the track will not begin accepting bets without Murphy's blessing, regardless of the last-minute alteration to the bill" (Newark STAR-LEDGER, 6/8). ESPN.com's David Purdum noted Murphy has 45 days to "act on the bill." Murphy's Press Secretary and Deputy Communications Dir Dan Bryan in a statement said, "The Governor has long been supportive of New Jersey's right to allow sports betting and he wants to ensure that the proposed regulatory scheme is fair and reasonable" (ESPN.com, 6/7). In Newark, Brent Johnson in a front-page piece reports New Jersey officials "estimate the state will see" about $13M in "tax revenue from the betting in the fiscal year that begins July 1 -- though some officials say that's a conservative figure" (Newark STAR-LEDGER, 6/8).
AT THE READY: In New Jersey, Nicholas Pugliese in a front-page piece notes Drazin and others are "eager to get in the game." Monmouth Park has been "ready to start taking bets since May 14." Since then, the Borgata in Atlantic City has also said that it will have a sportsbook "up and running soon after it's legalized." The measure approved Thursday would "allow wagers by anyone 21 or older at casinos and active and former racetracks, as well as online and on mobile devices 30 days after the rest of the law takes effect." Gamblers would be "able to place bets on all professional and college sports unless the college event takes place in New Jersey or involves New Jersey schools." Proceeds from on-site bets at casinos and racetracks "would be taxed" at 8.5%, while proceeds from online bets would be taxed at 13%. Lawmakers have also been "adamant that professional sports leagues will not receive the so-called 'integrity fees' some have requested" (Bergen RECORD, 6/8).
COLLISION COURSE: In Las Vegas, Richard Velotta notes the newly passed legislation in New Jersey puts MGM Resorts Int'l and Caesars Entertainment on a "collision course for taking sports bets." Caesars has had a "longtime Atlantic City casino presence" and also owns Bally's Atlantic City and Harrah's Atlantic City Resort. Meanwhile, MGM partnered with Boyd Gaming to "build the 2,002-room Borgata" that opened in '03 (LAS VEGAS REVIEW-JOURNAL, 6/8). Meadowlands Racetrack Chair & CEO Jeffrey Gural said that he "expects to announce a partner for his sports betting operation in the coming days" (N.Y. TIMES, 6/8).
