Bill would keep 4 New Jersey casinos in sports betting game

By WAYNE PARRYMarketsAssociated Press

A bill expected to get final approval on Thursday in New Jersey could help keep four Atlantic City casinos in the sports betting game.

It would benefit the Borgata and three casinos owned by Caesars Entertainment.

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The bill would ban casinos or executives who own professional sports teams from offering sports betting, theoretically counting out Borgata owner MGM because it also owns the WNBA's Las Vegas Aces. But MGM would be approved because the team generates less than 1 percent of its total annual revenue.

Joshua Harris owns the Philadelphia 76ers and the New Jersey Devils and would get in under a clause allowing those who own less than 10 percent of a casino. Harris' Apollo Global Management owns a small percentage of Caesars Entertainment.