Esports Entertainment Group has received its first US license, after its New Jersey application was approved by the state’s Division of Gaming Enforcement (DGE).
With the application approved, the operator now awaits a transactional waiver from the regulator. This may be granted once its software is submitted to testing labs, paving the way for it to start acquiring customers in the Garden State.
“This is a major step for us in our growth strategy in the US,” Grant Johnson, chief executive of Esports Entertainment Group, said.
The operator said it intends to launch in the first quarter of its 2021-22 financial year, which runs from 1 July to 30 September.
“According to a study from data firm Interpret, over 50% of U.S. esports fans said they are likely to engage in esports betting so we are confident that demand will be strong,” continued Johnson. “Securing access to what is currently the largest market for sports betting in the US is very exciting.
“We are also in discussions with partners and regulators in additional jurisdictions to continue our expansion plans.”
The operator first took steps to launch in New Jersey last year with the creation of a new US-facing subsidiary, GMBL New Jersey. Market access was secured through a deal with Bally’s Corporation, which was known as Twin River when the deal was signed in August 2020.
Last week, Esports Entertainment Group published its financial results for the third quarter of its financial year. The operator made $5.4m (£3.8m/€4.4m) in revenue for the quarter, and reported a net loss of $12.4m.