Betfair has reached a deal with Caesars Entertainment that will allow the UK-listed exchange betting operator to retain its New Jersey online gambling operations. The state requires all online gambling companies to partner with an Atlantic City casino operator but Betfair’s fiscally-challenged brick-and-mortar partners at the Trump Plaza shut their doors last month. The promise of a similar fate facing the Trump Taj Mahal forced Ultimate Gaming to withdraw from the New Jersey market late last month.
The New Jersey Division of Gaming Enforcement (DGE) had assured Betfair that they would be given a grace period in which to find a new casino partner. On Sept. 24, the DGE approved a Data Center Sublicense Agreement that would allow Betfair to partner with Caesars Interactive Entertainment NJ, the New Jersey online gambling market’s perennial number-two revenue generator behind the Borgata-Bwin.party combo. The transactional waiver granted to Betfair as a result of this deal is for a six-month duration.
Meanwhile, with five AC casinos now expected to close by year’s end, a state legislator has proposed a bill that would require all state-licensed online gambling operators to promote their casino partners via their websites and online advertisements. On Thursday, the state Assembly Gaming and Tourism Committee endorsed A-3348, which Assemblyman Ralph Caputo said “provides an opportunity to expand advertising and get the word out about the casinos still standing.” Assemblyman Troy Singleton suggested the bill would allow the casinos “to reach potential customers who may want some entertainment options along with their gambling.”