Monmouth Park Breaks Ground on Trackside Caesars Sportsbook

Posted on: May 8, 2024, 04:35h. 

Last updated on: May 8, 2024, 10:00h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Monmouth Park Racetrack held a ceremonial groundbreaking of its trackside Caesars Sportsbook on Tuesday, a 16,000-square-foot facility that will include a Shake Shack full-service restaurant and wall-to-wall television screens displaying all of the day’s sports action.

Monmouth Park Caesars Sportsbook New Jersey
Officials with Darby Development and Caesars Entertainment hold a ceremonial groundbreaking on the future Caesars Sportsbook at Monmouth Park on May 7, 2024. The New Jersey racetrack in Oceanport was the site of the first legal sports bet in the Garden State in June 2018. (Image: Caesars Entertainment)

Monmouth Park was home to the first legal wager in New Jersey when, on June 14, 2018, Gov. Phil Murphy (D) put $20 on the NHL New Jersey Devils to win the 2019 Stanley Cup (they did not).

Monmouth Park opened its William Hill Sportsbook after the US Supreme Court in May 2018 struck down a federal law that New Jersey had contested in federal court, a landmark decision that opened the floodgates to legal, regulated sports gambling across the country.

After Caesars Entertainment acquired William Hill, Monmouth Park rebranded its sportsbook to Caesars in early 2022. The racetrack’s sportsbook has remained in a renovated section of the historic grandstand but next year, a larger standalone book will complement the home of the Haskell.

Caesars Sportsbook Details

Monmouth Park is owned by the New Jersey Sports and Exposition Authority (NJSEA) and operated by Dennis Drazin’s Darby Development, LLC. Drazin and Caesars officials commenced construction of the standalone Caesars Sportsbook on Tuesday, which will be located off the southern end of the Monmouth Park grandstand.

The forthcoming sportsbook, set to open next year, will feature indoor and outdoor seating, a staffed betting window, and 25 self-service wagering kiosks. The facility will have an abundance of flatscreen televisions and digital displays to provide unobstructed views of any game a guest comes to watch.

We’re extremely excited to begin this next chapter with the upcoming opening of the new Caesars Sportsbook at Monmouth Park,” said Drazin. “As we start our sixth year of sports betting, we continue to see the growth and expansion we knew would eventually happen. This will be a magnificent addition to the Monmouth Park facility as our partnership with Caesars continues to evolve.”

In addition to its retail sportsbook, Monmouth Park’s partnership with Caesars extends online. Bettors can sign up through the Monmouth Park website to establish an online sports wagering account with Caesars Sportsbook. 

Monmouth’s Not So Mammoth Revenue

Drazin rallied state officials to fight for sports betting before the 2018 SCOTUS decision. The longtime horseman said such gambling was critical to maintaining the state’s equine industry.

Drazin invested in a William Hill lounge long before he was allowed to take bets. The room served as a quasi-sports bar until the 2018 verdict.

Sports betting has provided the racetrack with additional revenue, though it has greatly trailed the Meadowlands Racetrack every year since betting began. In 2023, Monmouth Park’s sports betting operations reported gross revenue of a little more than $21 million, up 3% from 2022.

Along with Caesars Sportsbook, Monmouth Park lends its brick-and-mortar online sports betting privileges to BetRivers. The New Jersey Division of Gaming Enforcement began breaking down sports betting revenue by operator this year, though  Caesars presumably accounted for the bulk of the track’s $21 million win last year.

The Meadowlands’ sports betting partners — FanDuel, Fanatics, and SuperBook — won more than $483.5 million from bettors in 2023. Freehold Raceway’s sports betting partners, ESPN Bet and betPARX, won nearly $30.3 million.