Caesars Entertainment celebrated the grand opening of a 16,000‑square‑foot sportsbook at Monmouth Park in Oceanport, New Jersey, on Friday, November 21, 2025. The new venue sits adjacent to the club house and includes a dedicated betting area, a bar, a restaurant, and a Shake Shack, and the ribbon‑cutting ceremony was attended by local officials and Caesars executives.
The launch marks a key milestone in Caesars’ strategy to blend its integrated resort model with a robust digital footprint. By adding a physical betting location in a high‑traffic racing venue, Caesars can capture on‑track visitors while also attracting broader sports‑betting customers, creating a new revenue stream and strengthening brand visibility in a key jurisdiction that has been a leader in legalized sports wagering in New Jersey.
Caesars’ recent financial performance underscores the importance of this expansion. In Q3 2025, the company reported GAAP net revenues of $2.9 billion, flat year‑over‑year, and a net loss of $55 million, compared with a $9 million loss in Q3 2024. Digital Adjusted EBITDA fell to $28 million from $52 million a year earlier, reflecting lower sports‑betting hold and increased investment in the online platform. The company’s debt stands at $11.9 billion as of September 30, 2025, and it is targeting a debt‑to‑EBITDA ratio below 6× by 2027.
Dan Shapiro, Caesars Digital SVP, said the new sportsbook “provides a seamless bridge between our on‑premise and online offerings, allowing us to deliver a consistent, high‑quality betting experience to customers regardless of where they choose to play.” Monmouth Park CEO Dennis Drazin added that the partnership “enhances the track’s appeal and offers fans a modern, convenient way to engage with sports betting.” The company has also been navigating a complex regulatory environment, including a recent $7.8 million fine in Nevada for anti‑money‑laundering violations, underscoring its focus on compliance as it expands its footprint.
Monmouth Park has a storied place in New Jersey’s sports‑betting history, having accepted the state’s first legal in‑person sports wager in June 2018. The sportsbook was previously operated by William Hill before Caesars acquired William Hill’s U.S. assets, and the new venue continues that legacy while positioning Caesars to capture a larger share of the growing sports‑betting market in the region.
The opening of the Monmouth Park sportsbook fits into Caesars’ broader plan to diversify income sources, grow its digital and regional operations, and manage debt through strategic investments that generate incremental cash flow. By integrating retail and digital betting, Caesars aims to capture additional wagering traffic and strengthen its competitive position in a rapidly expanding industry.
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