MGM teams with MLB; Brass Ass gets bigger

MGM Resorts International continues to rack up partnerships with the major sporting leagues, the latest being Major League Baseball. The American Gaming Association‘s Sara Slane was understandably giddy at the news. “Agreements between sports leagues and the gaming industry enable all sports stakeholders to work together to eliminate the illegal sports betting market,” she enthused. “With MLB’s announcement today, three major sports leagues now have official sports betting partners – evidence of our continued commitment to protecting the integrity of both consumers and sporting competitions and that contracts remain preferential to statutes in all sports betting deals.” Amen to that.

But it’s small consolation to Monmouth Park, which is still suing the major leagues for sports-betting revenue lost while the Bradley Act was being litigated. The latter comes to $140 million, while the racino is also pursuing reimbursement for a $3.5 million bond (plus interest) it had to post during the course of Christie v. NCAA. The New Jersey Thoroughbred Horsemen’s Association hit a setback last week when a federal judge ruled that the fact the Bradley Act was eventually tossed by the Supreme Court had no bearing on the horsemen’s lawsuit. Monmouth Park is pursuing an appeal.

U.S. District Judge Michael Shipp opined, “In 2014, PASPA was constitutionally valid. Thus, the law as it existed in 2014 clearly favored the leagues … The Court accordingly finds good cause exists to deny NJTHA damages.” Monmouth Park owner Dennis Drazin was already on the record as saying, “We believe the leagues acted in bad faith trying to stop New Jersey from taking advantage of sports betting while at the same time they were pursuing fantasy sports.” He’s got a trenchant point but it may be immaterial to the larger issue. Drazin’s got an uphill fight on his hands because the Third District Court of Appeals already ruled 9-3 against the Garden State in Christie. Even if the horsemen win their appeal, damages may well be reduced. So far, sports wagering win at all venues in New Jersey combined has come to $34 million, darn well short of $140 million.

* Taking the long view, Eldorado Resorts has inked a 20-year pact with the Stars Group, parent of PokerStars. The deal gives Eldorado a $25 million stake in Stars Group, in return for access to the former’s cyber- and mobile sports-betting operations. In return Stars Group gains access to the Nevada, New Jersey, Pennsylvania, Mississippi and West Virginia markets.

* Our great country isn’t the only one in which sports betting is a hot political topic. In Brazil the Senate has voted in favor of both terrestrial and mobile sports wagering. Revenues would be distributed through the national lottery, Lotex. At present, Brazil loses over $1.1 billion to offshore betting sites. Under the new bill, the hold would be set at 20% and of that only 14% will be allowed to be kept by operators, with 6% going to the government (the distribution is even narrower for mobile wagering). President Michael Temer has already given the new bill his verbal blessing so it’s as good as a done deal.

* I always feel sorry for the people who have to answer the phone at Colorado‘s Brass Ass Casino. (“Good morning, Brass Ass. How can I help you?”) Today comes news that Brass Ass owner Triple Crown Casinos is investing in “an upscale rooftop restaurant, more than 5,000 square feet of meeting space, a fitness center, hot tubs, coffee shop, lounge and other amenities.” The central addition will be a five-story hotel, pushing the Brass Ass to in excess of 200 rooms, making it the biggest hotel in town.

Said Triple Crown CEO Larry Hill, “With a robust economy in Colorado Springs and Colorado’s tourism options growing, we recognize that we need to differentiate the Cripple Creek experience to remain competitive. We feel the additional guest rooms will help Cripple Creek take the next step in becoming more of an overnight destination for regional and tourist markets.” Triple Crown maintains that the new designs will remain congruent with the historical character of Cripple Creek, but you can judge for yourself. Us, we’re just thankful for the opportunity to write a Brass Ass story.