{"id":7730,"date":"2018-06-06T19:32:26","date_gmt":"2018-06-06T19:32:26","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=7730"},"modified":"2018-06-07T15:56:29","modified_gmt":"2018-06-07T15:56:29","slug":"if-some-casinos-cant-offer-sports-betting-blame-the-houston-rockets","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/if-some-casinos-cant-offer-sports-betting-blame-the-houston-rockets\/","title":{"rendered":"If Some Casinos Can\u2019t Offer Sports Betting, Blame The Houston Rockets"},"content":{"rendered":"
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Proposed regulatory legislation in the Garden State could keep Golden Nugget Atlantic City<\/strong> out of New Jersey\u2019s sports betting market<\/strong>. Plus, if other states follow suit, casinos with ties to pro sports franchises<\/strong> all over the US could suddenly be on the outside looking in as well.<\/p>\n

On May 14, the US Supreme Court<\/strong> declared the Professional and Amateur Sports Protection Act of 1992 <\/strong>(PASPA) unconstitutional. This opened the door for all 50 states to join Nevada<\/strong> in legalizing single-game wagering.<\/p>\n

Delaware<\/strong> was able to open up its local sport betting market June 5. The quick turnaround is the result of already having the legal framework for sports betting set up.<\/p>\n

New Jersey is in the midst of putting together regulatory sports betting legislation<\/strong> to govern the industry there. However, language in the latest bill being considered by NJ lawmakers asks casino and racetrack operators with an ownership interest<\/strong> in a sports franchise to choose between the team and opening up a sportsbook.<\/p>\n

New Jersey proposing ownership restrictions<\/span><\/h2>\n

In fact, a provision in sports betting bills in both the NJ Senate and Assembly<\/strong> will restrict sports team owners from offering wagers on sports. A provision that would force Golden Nugget Atlantic City<\/strong> owner Tilman Fertitta<\/strong> to choose between opening a sportsbook and the NBA\u2019s Houston Rockets<\/strong>. A team the Houston billionaire bought for $2.2 billion<\/strong><\/a> in 2017.<\/p>\n

Caesars<\/strong>\u00a0properties in Atlantic City could also be affected by the provision. Caesars is owned by Apollo Capital Management<\/strong>, a private equity firm co-founded by Philadelphia 76ers<\/strong> and New Jersey Devils<\/strong> owner Joshua Harris<\/strong>. However, Caesars size and the nature of its ownership arrangements might protect it.<\/p>\n

The bill essentially prohibits casino operators who own a stake of 10 percent<\/strong> or more in a sports franchise from offering sports betting. Although there appears to be a few exceptions. Operators qualify for a waiver if:<\/p>\n