New Jersey to reverse law prohibiting sports team owners from taking certain bets
New law will enable Golden Nugget to take bets on NBA games not involving Houston Rockets
New Jersey lawmakers have passed a bill that will enable betting operators of sports team owners to accept bets on games within their league.
Under the current law, which applies to those that own more than 10% of a sports team, Golden Nugget is unable to take bets on the NBA, as owner Tilman Ferttita also owns the Houston Rockets NBA team.
The new law would still prohibit operators from taking bets on games involving their team.
The bill was passed by the Senate this week by a vote of 26-1 but has yet to be signed by Governor Phil Murphy.
The measure caused Rush Street Interactive to move its PlaySugarHouse sportsbook onto Monmouth Park’s license ahead of the last NBA season.
Golden Nugget launched its retail sports betting operation last August and went online in September.
The operator reported total betting revenues of $223,722 in New Jersey in July.