- The chairman of the company that owns and operates Monmouth Park Racetrack said that “Without sports betting, we’d be closed” when speaking at the opening of the track’s brand new Caesars Sportsbook facility.
- Partnerships like the one between Monmouth Park and Caesars are often beneficial to the racetrack because of revenue sharing and increased foot traffic.
OCEANPORT, N.J. – Dennis Drazen, the chairman of Darby Development LLC, the operator of Monmouth Park Racetrack, said, “Without sports betting, we’d be closed” when referring to the historic horse and sports betting location in New Jersey.
Drazen’s comments regarding the importance of legal sports betting in New Jersey and how it affects Darby Development LLC were made at the Monmouth Park ribbon-cutting ceremony for their new 16,000 square feet standalone Caesars Sportsbook facility.
Key features of the new facility include wall-to-wall viewing options and 25 self-service kiosks. The most unique feature that few, if any, other brick-and-mortar sportsbooks offer is a full Shake Shack with a complete menu within the sportsbook.
The new standalone Caesars Sportsbook broke ground back in May 2024. It replaces the previous in-person Caesars sportsbook option at the legendary horse racing venue.
How Does Caesars Sportsbook Help Monmouth Park?
Partnerships between sportsbooks and legal racebooks, like the one between Caesars and Monmouth Park, are very common because they are profitable for both sides.
The benefits for racebooks are that sportsbooks generate foot traffic that can lead to an increase in the on-site horse races, and that some partnerships require sportsbooks to share some of their in-person generated revenue with the racebooks.
Both of those reasons are likely why Monmouth Park has established their partnership with Caesars.
- Note: Monmouth Park’s online partnership with BetRivers in New Jersey is likely also due to the fact that the racetrack likely gets a percentage of the sportsbook’s revenue. BetRivers is essentially forced to partner with an in-person casino or racetrack to gain market access, which means they must compensate their partner.
The main benefit for the legal sports betting providers is that they get access to a market that they may not have been able to join. That’s why Caesars Sportsbook is partnered with Monmouth Park, because otherwise the sportsbook may not have been able to become one of the 11 licensed and operating sports wagering lounges, per the New Jersey Office of the Attorney General Division of Gaming Enforcement.
