- Legal States
Mike Johnson August 7, 2020 3 min read
PointsBet Teams up with Twin River for Entry in NJ’s Gaming Market
Earlier this week, Twin River and PointsBet signed a multi-year partnership. Under the partnership, PointsBet will be able to enter the New Jersey gaming market. Prior to launching, the sports betting operator will need to apply for a license from the state’s regulator.
Twin River and PointsBet Signed a Multi-Year Partnership
The sports betting operator PointsBet signed a multi-year partnership with Twin River Worldwide Holdings earlier this week. Under the new partnership PointsBet will access the New Jersey gaming market by launching online gambling and casino platform. The agreement outlines that PointsBet will be paying Twin River a percentage of the net gaming revenue.
In addition, the sports betting operator is going to be responsible for securing of a license as well as the costs for launching of its online platform and mobile application. Prior to launching online gaming and casino services, PointsBet will need to receive approval from the New Jersey’s regulator.
The finalization of the partnership was contingent on the acquisition of Bally’s Atlantic City Hotel and Casino by Twin River. Although the acquisition deal for $25 million was struck back in April, it had to wait for the megamerger of Eldorado-Caesars. Since the merger was completed last month, now the acquisition is awaiting the approval of the state’s regulators. Looking back in July, Twin Rivers struck another key deal aiming at acquiring Eldorado Resorts’ subsidiary companies which own the Isle Kansas City in Missouri and the Lady Luck casinos in Mississippi.
PointsBet Continues to Grow on the US Market
Here is what Twin River Worldwide Holdings president and CEO, George Papanier said about the partnership: “PointsBet will be a great addition to our growing partnerships with innovative leaders around the world.” He continued by saying that the company is extremely excited to have the opportunity to participate in the best mobile gaming environment, created by New Jersey. Papanier concluded by saying that the company will continue to bring innovative offers to the growing market.
“PointsBet is thrilled to partner with Twin River to offer its flagship online casino product in New Jersey as a complement to its critically acclaimed sportsbook,”said PointsBet President of Product and Technology Manjit Gombra Singh
Singh stressed that the company will continue to offer innovative products and exclusive technology. According to him, the recent agreement affirms that PointsBet is keeping its focus on providing modern gaming experience for modern times.
PointsBet Chief Innovation Officer Seth Young also commented on the subject. He said that the company is proud to offer premium player experience with the help of its unique technology. Young outlined that PointsBet will continue to improve client experience and offer rich content with high speed and ease of use.
Keeping in mind the recent partnership by PointsBet we cannot miss to mention that the company continues to expand its presence on the U.S. market. Earlier this week, PointsBet entered into a multi-year partnership with the Indiana Pacers. Under the partnership, PointsBet became an official sports gaming partner of the team. As a result, PointsBet will be displaying its branding on the team’s arena as well as on their online platforms.