- Caesars nearing full-scale sports betting launch for properties in NJ
- The company continues to diversify its portfolio
- Millennials are the main demographic consumer-spending group Caesars wants to target
More sports betting action is arriving to New Jersey with the Bally’s Atlatnic City and Harrah’s launching their wagering verticals. Properties of Caesars Entertainment, this will be the first time the casino-owner has offered full-scaled sports betting in the Garden State.
Caesars to Open Betting Facilities at NJ Bally’s and Harrah’s
Harrah’s and Bally’s launched a preliminary sports betting offer last summer when Caesars began pushing for a full-scale launch while adapting the facilities. Now, nearly a year later, the casino-owner is preparing to introduce the live version of its sports betting lounges which cost the company $11 million.
Thanks to its determination, Caesars has managed to beat the competition standing tall as the only fully-licensed sports betting business on the Boardwalk. Harrah’s pushing for a mid to late-May launch while Bally’s will take slightly longer until June to wrap things up. Challenges lie well ahead and Caesars is aware of that.
While scaling business across the United States, Caesars is mostly focused on holding the states in which it already operates, the company’s executives shared during their latest Earnings Call.
In light of this, Caesars Atlantic City regional manager Kevin Ortzman has cautioned that Caesars’ decision to scale sports betting was taken last year and not necessarily in line with what the current strategy of the company was.
At the same time Ortzman is prepared to raise the profile of the company through sports betting in Atlantic City:
I wanted to create a category-killer in Atlantic City. There’s been so much pent-up demand for decades on legalized sports betting. We finally have it, and I want to be able to deliver to the customers.
Caesars recently announce that it is slashing loyalty points for visitors in a bid to offset $40 million in wage increases. The company didn’t spare money to bring its sports betting lounges in the two venues up to speed, though, guaranteeing the comfort of would-be customers.
Caesars Is Focusing Millennial in New Jersey and Elsewhere
While Caesars wants to consolidate its sports betting business, the company is also focusing on hosting different, fun, social-type games and events in an attempt to maximize the use of owned space.
There is a concentrated effort to attract millennial demographic which is going to be the largest consumer-spender group across the United States.
Caesars is also exploring other options, such as competitive video gaming. In October 2018, the company signed a partnership with Harris Blitzer Sports & Entertainment of popular “esports” squad Team Dignitas.