Borgata is doing a little name change this week. But we are not talking about the casino itself.
As of this week, BetMGM Sportsbook & Bar is the new name of the property’s retail sports betting operation. Moneyline Bar & Book is no more.
During a Sunday visit, Borgata officials told NJ Gambling Sites the signage outside the space was being changed Monday. And the website is already updated with the new name.
Nothing else about the space is changing. At least from a design standpoint. But due to state mandates, the BetMGM-branded space is not serving food and drinks. Plus there is that 25% capacity thing.
Changing Moneyline to BetMGM makes sense
The BetMGM brand is in the process of establishing a national customer base.
But the platform is live in Indiana, Colorado, West Virginia, and Nevada, too.
Borgata is not the first MGM-owned property to do the name swap. Park MGM on the Las Vegas Strip also dropped the Moneyline name in favor of BetMGM.
And by taking a national approach with the branding, BetMGM hopes to expand its customer base across multiple jurisdictions.
Tom Gable, director of race and sportsbook operations at Borgata, said he was helping out with a project in New Mexico. He noted the app is and will be available via properties outside of the MGM umbrella.
“You’ll see it at other properties as well throughout the country and in other states,” said Gable. “They’re live in Colorado now as well as on mobile. So it’s really just getting into other jurisdictions to be able to compete nationally against those other national brands.
“It’s really how BetMGM is being positioned. … It’s going to be that national brand that’s going to compete against the DraftKings and FanDuels of the world.”
Borgata + NJ sports betting
Talking more specifically about NJ sports betting, BetMGM is one of two brands operating under the Borgata license.
Borgata Sports is the other.
While BetMGM is establishing a national following, Borgata Sports is the more popular offering with Garden State customers.
Gable explains the connection with the property has a lot to do with it.
“Borgata’s is the really strong brand, obviously, in New Jersey and really the tri-state area here,” said Gable.
“People just associate, obviously, more with Borgata in this area than they do necessarily BetMGM. That’s not to say BetMGM is not doing any business in New Jersey. They certainly are. But that Borgata Casino brand, that Borgata Sports brand, it’s really, really strong in this area. … Let’s face it, that’s what resonates with the customer.”
The New Jersey Division of Gaming Enforcement does not provide a monthly breakdown of how each app is performing. Looking at Borgata’s sports betting revenue as a whole, and there’s a story. Business is improving for the license holder.
Borgata has earned more than $6 million in year-to-date NJ sports betting revenue. In 2019, the number came in a tad over $1 million over the same period.
Keep in mind the number would likely be much higher had the global pandemic not shut down the sports world.
The 2020 NCAA Tournament being canceled wiped out March Madness betting. Plus, the 2020 MLB season finally got underway on Thursday.
And these are just two examples of the impact the return of sports will have on Borgata and BetMGM’s bottom line.
Could NJ sports betting see a record August?
NBA betting season resumes on Thursday with two games. Plus the NHL restart hits the ice on Aug. 1.
August is typically a month reserved for MLB while NFL teams are in preseason mode. This time around all four major pro sports will be on the menu along with the PGA Tour, NASCAR, and UFC.
So exactly how big a month could it be? Gable expects high numbers.
“Now with the major sports coming back, [it’s] probably going to be a record August, I would assume, for most books out there. It’s going to be great,” Gable said.
And speaking more specifically about baseball, the Philadelphia Phillies, New York Yankees, and New York Mets are all attracting significant betting interest.
“You’re always going to have liability in this market on the Yankees and Mets and the Phillies. It’s normal,” said Gable.
“I’m really interested to see day-to-day, now that we’re open to the general public, how their teams fair. I mean, with the condensed schedule this year, you have two really strong divisions. The AL East and the NL East are going to be playing the majority of their games in the division and against each other. So some of those stronger teams could get hurt, just the way the schedule’s set up.”
With so many sports returning and NFL betting just a month away, it was probably the perfect time to change the sportsbook’s name.
When next you visit Borgata, look for BetMGM Sportsbook & Bar to place your bets.