The Fanatics Sportsbook at Ocean Casino Resort: A Unique Betting Dilemma
The Fanatics Sportsbook at Ocean Casino Resort in Atlantic City has found itself in a peculiar situation this postseason: it cannot accept bets on the Detroit Tigers. This restriction stems from the ownership structure of the resort, which is partially owned by Ilitch Holdings, Inc., the parent company of the Tigers. This article delves into the intricate web of ownership and regulations that have led to this betting conundrum.
Ilitch Holdings: A Powerhouse in Sports and Business
Ilitch Holdings, Inc. is a significant player in both the sports and business landscapes. Founded by Marian Ilitch and her late husband, Mike Ilitch, the company has its roots in the pizza industry, having established Little Caesars Pizza in 1959. The success of Little Caesars has made the Ilitch family billionaires, with a net worth nearing $4 billion, according to Forbes.
Beyond their pizza empire, the Ilitch family owns two major sports franchises: the Detroit Tigers of Major League Baseball and the Detroit Red Wings of the National Hockey League. This dual ownership places them in a unique position within the realm of sports betting, particularly when it comes to their investments in casinos.
The Ownership Structure and Betting Regulations
The crux of the issue lies in the ownership stakes. Ilitch Holdings holds a 50 percent stake in Ocean Casino Resort, which means that the Fanatics Sportsbook located on the premises is prohibited from accepting bets on the Tigers. New Jersey’s sports betting regulations are clear: “The direct or indirect legal or beneficial owner of 10 percent or more of a sports governing body or any of its member teams shall not place or accept any wager on a sports event in which any member team of that sports governing body participates.” This regulation is designed to prevent conflicts of interest and ensure the integrity of sports betting.
Online Betting: A Different Story
While the Fanatics Sportsbook at Ocean Casino Resort cannot accept bets on the Tigers, there is a silver lining for bettors. The sportsbook’s mobile platform operates under a partnership with Bally’s, which allows it to accept online bets on the Tigers. This means that fans can still place their wagers from the comfort of their homes, even if they can’t do so at the physical location of the Ocean Casino Resort.
The Investment in Ocean Casino Resort
Ilitch Holdings made headlines in October 2021 when it acquired its 50 percent stake in Ocean Casino Resort for $175 million. A portion of this investment, specifically $70 million, was earmarked for the construction of additional accommodations, including 464 rooms and 100 suites. However, these plans faced setbacks, and the rooms were never completed when the property initially opened as Revel in 2012.
A Comparison with Other Betting Venues
Interestingly, while the Fanatics Sportsbook at Ocean is restricted from taking bets on the Tigers, the situation is different at MotorCity Casino Hotel in Detroit, which is also owned by Ilitch Holdings. The FanDuel Sportsbook at MotorCity can accept bets on the Tigers because Michigan’s sports betting laws do not impose the same restrictions on team owners as New Jersey’s regulations do. This discrepancy highlights the varying landscape of sports betting laws across states, creating unique challenges and opportunities for bettors and operators alike.
The Tigers’ Postseason Journey
As the Tigers continue their postseason journey, having recently swept the Houston Astros in a two-game wild-card series, they are set to face the Cleveland Guardians in a best-of-five American League Division Series. The excitement surrounding the team’s performance adds another layer of intrigue to the betting landscape, as fans look for ways to engage with the postseason action, even if they can’t place bets at the Ocean Casino Resort.
In summary, the Fanatics Sportsbook at Ocean Casino Resort finds itself in a unique position due to the intertwined ownership of Ilitch Holdings and the Detroit Tigers. While local regulations prevent the sportsbook from accepting bets on the Tigers, online betting options remain available, allowing fans to stay engaged with their team’s postseason run. The complexities of sports betting regulations continue to evolve, reflecting the dynamic nature of the industry and the passionate fan base that drives it.