The expansion of sports gambling in the United States continues with an exciting new partnership between Playtech, Bet365, and Hard Rock Casino. The trio plan to revitalize casino and sports betting action in Atlantic City, including new gaming technology. This is the first step for Playtech in the United States, and an expansion east for Bet365, who already had a deal set up in Colorado.
Playtech Partners With Entertainment Giants
A major development in the New Jersey gambling scene promises to shake up the established pecking order. Sports betting and casino solutions industry titan Playtech was granted a full transactional waiver to work with a variety of partners to implement wagering solutions over the next year or so.
The New Jersey Division of Gaming Enforcement (NJDGE) awarded regulatory approval to the Playtech group at the beginning of June, with Playtech CEO Mor Weizer proclaiming that this represents a “major milestone” for his global organization. Weizer elaborated by saying that “we are delighted to have met the stringent regulatory requirements of the NJDGE and to be launching in New Jersey with our long-standing strategic partner Bet365.”
Bet365 is one of the most successful bookmakers in the world, and an offshoot of a long-running business group that has been involved with legitimate wagering for decades. By partnering with Bet365, Playtech has found themselves a partner that can maximize the impact of their entry into the New Jersey market. Bet365 founder Denise Coates has a proven track record of expanding businesses and utilizing new ideas to successfully bring products to market.
It turns out that the other major player in this move includes the Hard Rock Atlantic City Casino. Once a brand name that carried significant weight across North America, the Hard Rock brand is now focused on a few places, including their property in Atlantic City. Playtech and Bet365's updated technology and gaming expertise will be combined, while Hard Rock will pitch in their considerable experience with casino hospitality and management.
“This is the first step for Playtech in the US and we are very excited about the long-term opportunity,” Weizer said.
Along with their own casino and gaming operation, Playtech looks to support other operators across the Jersey shore with proven casino and sports betting technology, including Bet365 mobile capabilities.
Playtech Begins Their American Journey
Certainly, Atlantic City has been a hotbed of gambling activity for a long time, as witnessed by the HBO drama Boardwalk Empire. However, Playtech’s entry into U.S. soil marks a notable change in attitude that’s the result of the federal government releasing control of wagering legislation to individual states. Put simply, prior to the change in federal law, there’s little chance that Playtech and Bet365 casino would have a realistic avenue to approach a brick-and-mortar locale in New Jersey.
Now that they have a foothold, the company will abide by their regulatory agreement while distributing their casino solutions, sports betting platforms, and other types of approved wagering products in the state. Eventually, Playtech plans to offer their products across the United States, at least in jurisdictions which have relaxed regulations.
This first successful licence application was one of the multiple licensing processes that the company has been undertaking across the United States. Part of their success is the fact that the company has already launched several popular products across the border in Mexico, and partnered with various sportsbooks and online casinos in North America
Playtech was established in 1999 by Teddy Sagi in 1999. After these regulatory announcements, the company has now successfully boosted itself above the billion-dollar market evaluation watermark, with the stock up by 5% in a single day.
Bet365 Quietly Grows Their U.S. Presence
In addition to Playtech enjoying a massive boost to their business, Bet365 is quietly thrilled to establish another foothold in the United States through their New Jersey partnership. Interestingly, this isn’t the first partnership established by Bet365 in the United States.
A couple of weeks before teaming up with Playtech and Hard Rock, Bet365 inked a deal with Century Casinos as a major provider for a project in Colorado. Century Casinos is an industry giant that seeks to quickly upscale their offerings to include the latest tech for sports wagering. Bet365 and its proven portfolio of products will be tapped to integrate sports betting within Century’s new gaming platform, assuming they receive regulatory approval.
Certainly, Bet365 will continue to diversify its partnerships and business ventures within the United States, especially as more regulations continue to fall across the nation. One of the biggest markets in the world, California, will soon vote on a motion that would allow for sports betting and the expansion of gaming in general. Should that happen, there’s little doubt that Bet365 and their generous bonuses will establish a presence in the Golden State.
New Jersey Sports Betting Growth
Playtech chose an excellent location to enter the United States market. Despite the slowdown of the entire sports work, New Jersey managed to collect a respectable sports betting handle of $54.6 million. Certainly, there was a massive drop year-over-year like any other industry impacted by the coronavirus, but the fact that measurable revenue was recorded remains impressive.
Expectedly, during April 2020, there was a rise of 118.6% for internet gaming, online casinos, and online poker sites. With more people staying home, there was a 29.5% rise in poker alone from March to April, showing a correlation with the unavailability of sports lines. When sports returns during the summer, there’s certain to be an explosion of betting activity as everyone rushes to enjoy what they’ve missed over the past few months.
Remember that when you sign-up at Bet365, you are eligible to claim a welcome bonus.