It appears that as most sports books are welcoming and receiving bets on this year’s NBA finals, Harrah’s Entertainment properties are turning sports bettors away. That’s a pretty commendable position to be in if it were only for the right reason. The Las Vegas Review Journal is reporting why the company is sitting out this round:
Harrah’s Chairman and CEO Gary Loveman owns a piece of the Celtics. Late last year, Loveman acquired a 2.4 percent stake in the storied franchise, prompting the National Basketball Association to require Harrah’s to not accept bets on any Celtics game. Other games involving other teams are still allowed.
The restriction means bets will not be accepted at sports books at Caesars Palace, Paris Las Vegas, Bally’s, Imperial Palace, Flamingo, Bill’s, Harrah’s and the Rio in Las Vegas, about a third of all of the sports books on the Strip. The company dropped betting lines at Harrah’s-branded casinos in Reno, Lake Tahoe and Laughlin and at Harveys Lake Tahoe.
The article went on to explain that the NBA still doesn’t come close to generating the amount of betting as does the Super Bowl and March Madness. Here’s to hopping the finals stays about the game and not about betting.