On Tuesday, Monmouth Park Racetrack conducted a ceremonial groundbreaking for its trackside Caesars Sportsbook, a 16,000-square-foot venue that will feature a full-service Shake Shack restaurant and numerous television screens showcasing all the day's sports events. 

On June 14, 2018, Monmouth Park hosted the first legal bet in New Jersey when Gov. Phil Murphy (D) placed $20 on the NHL's New Jersey Devils to claim victory in the 2019 Stanley Cup (they did not win). 

Monmouth Park launched its William Hill Sportsbook following the US Supreme Court's May 2018 ruling which eliminated a federal statute that New Jersey had challenged in federal court, a pivotal decision that paved the way for legal, regulated sports betting nationwide. 

Following the acquisition of William Hill by Caesars Entertainment, Monmouth Park updated its sportsbook to Caesars in early 2022. The racetrack’s sportsbook has stayed in a refurbished area of the classic grandstand, but next year, a bigger independent book will enhance the Haskell's venue. 

Caesars Sportsbook Information 

Monmouth Park is managed by Dennis Drazin's Darby Development, LLC, and owned by the New Jersey Sports and Exposition Authority (NJSEA). Drazin and Caesars representatives began building the independent Caesars Sportsbook on Tuesday, situated at the southern end of the Monmouth Park grandstand. 

The upcoming sportsbook, scheduled to launch next year, will offer both indoor and outdoor seating, a staffed betting window, and 25 self-service betting kiosks. The venue will feature numerous flatscreen televisions and digital screens to ensure clear views of any match a visitor wishes to see.

"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.”

Along with its retail sportsbook, Monmouth Park's collaboration with Caesars goes online. Gamblers can register via the Monmouth Park website to create an online sports betting account with Caesars Sportsbook. 

Monmouth’s Revenue That’s Not So Mammoth 

Drazin urged state officials to advocate for sports betting prior to the 2018 SCOTUS ruling. The veteran horseman stated that this type of betting was essential for sustaining the state’s horse industry. 

Drazin put money into a William Hill lounge well before he was permitted to place bets. The room functioned as a sort of sports bar until the 2018 ruling. 

Sports betting has generated extra income for the racetrack, although it has significantly lagged behind the Meadowlands Racetrack each year since the start of gambling. In 2023, Monmouth Park's sports wagering activities recorded gross revenue slightly exceeding $21 million, an increase of 3% compared to 2022. 

In addition to Caesars Sportsbook, Monmouth Park offers its physical online sports betting rights to BetRivers. This year, the New Jersey Division of Gaming Enforcement started analyzing sports betting revenue by operator, although Caesars likely represented most of the track’s $21 million profit from last year. 

The Meadowlands’ sports wagering partners — FanDuel, Fanatics, and SuperBook — earned over $483.5 million from gamblers in 2023. Freehold Raceway's sports wagering partners, ESPN Bet and betPARX, earned close to $30.3 million.