On Monday, SBTech announced that it had been chosen to provide Resorts with a sportsbook solution “across on-property, online and mobile channels.” The deal is subject to regulatory approval, and there was no timeline specified for when Resorts might launch its new betting product.
The deal will see Resorts “fully outsource its risk management and trading” to SBTech, who will implement a “bespoke risk management strategy” to ensure differentiation of Resorts’ betting product and “be in full control of their liabilities.”
Resorts CEO Mark Giannatonio said SBTech was selected due to its “deep regulatory expertise in the world’s most dynamic and demanding markets and the scalability to support our ambitious multi-vertical plans.”
This is the second betting deal that Resorts has struck, having previously announced a partnership with daily fantasy sports operator DraftKings, who subsequently announced a tech deal of their own with European betting supplier Kambi Group.
New Jersey’s new sports betting regulations permit the state’s casinos and racetracks to operate up to three online sports betting ‘skins’ and the SBTech announcement indicates that, while SBTech will also operate digital wagering for Resorts, it will “focus on the on-property solution to provide a land-based solution for the future.” So don’t expect Resorts on-property sportsbook to feature any DraftKings signage.
SBTech previously announced a betting technology partnership with racing and casino operator Churchill Downs Inc, who simultaneously inked an online gambling and betting pact with the Golden Nugget Atlantic City casino. CDI said it had targeted a Q1 2019 launch for the new online services.
ATLANTIC CITY AVOIDS SHUTDOWN THREAT
Meanwhile, Atlantic City’s casinos and state racetracks caught a break over the weekend as Governor Phil Murphy announced Saturday that there would be no government shutdown.
Murphy and state legislators had been warring over their latest budget plan, and a failure to reach a deal would have forced a shutdown of non-essential government services, including gaming regulators, which would have necessitated a shutdown of gaming operators.
But a mutually acceptable budget solution was agreed to on Saturday and signed into law by Murphy the following day. State gaming operators, particularly the two new casinos that just opened their doors on Thursday, breathed a sigh of relief.