Online sports betting operator PointsBet is to enter into the New Jersey igaming market after securing a ‘primary skin’ agreement with Twin River Worldwide Holdings.
Under the market access deal, PointsBet will launch an online gambling and casino platform, with an agreement to pay Twin River a portion of net gaming revenues derived from its igaming operations in New Jersey.
This will complement the Australian operator’s sportsbook product, which is live in the state through its partnership with Monmouth Park racetrack.
The launch is contingent upon Twin River completing its acquisition of Bally’s Atlantic City Hotel & Casino, as well as PointsBet securing the relevant licenses and regulatory approvals for its mobile app and website platforms.
“PointsBet continues to innovate and iterate upon its proprietary technology profile and this agreement is yet another signal that PointsBet remains focused on providing a modern gaming experience for modern times,” PointsBet’s president of product and technology, Manjit Gombra Singh, said.
Twin River chief executive George Papanier added: “PointsBet will be a great addition to our growing partnerships with innovative leaders around the world. We are excited to have the opportunity to participate in the best-in-class mobile gaming environment that New Jersey has created and that we believe will bring new and innovative offerings to the market.”
In April, Twin River struck a deal to acquire Bally’s Atlantic City from Caesars Entertainment, as well as Eldorado Resorts properties Eldorado Shreveport Resort and Casino in Louisiana and the Mont Bleu Casino Resort & Spa in Lake Tahoe, Nevada,
Both agreements were subject to Eldorado completing its acquisition of Caesars, as well as Federal Trade Commission clearance. Eldorado finalised its purchase of Caesars in July, with the mega-merger worth $17.3bn (£13.1bn/€14.6bn).
Following completion, the combined business is now operating under the name ‘Caesars Entertainment Inc.’, with a portfolio of more than 55 casino properties around the world.