NJ regulator sets 29 June deadline for online partnerships
Sudden deadline sparks "mad scramble" for deals as European operators and suppliers look to gain foothold in market
New Jersey’s casino operators have been told to select their online gaming partners by the end of the month or risk obtaining approval in order to launch in November.
The state’s Department of Gaming Enforcement (DGE) has written to the state’s casino licensees to impose a 29 June deadline to outline the company they intend to partner to launch online gambling. Further details are then required in July. If such details are not provided, the DGE offers no guarantee that it will approve the casino’s online offering in time for the market launch date of 16 November.
Sources told eGaming Review that the deadline, which caught many by surprise, had created a “mad scramble” as hopeful partners aim to strike a deal with one of Atlantic City’s remaining licensees. Aside from acquiring a casino outright, partnering with a land-based casino operator is the only way online gambling companies will be licensed to offer their gaming products under New Jersey law.
With the Boyd-owned Borgata tied up through a deal with bwin.party and Caesars Entertainment owning several others, there is a finite amount of casinos left up for grabs. Almost all major European online operators are understood to be aiming for such a partnership, with PokerStars so far the only company to attempt a wholesale buyout of the Atlantic Club casino.
Earlier this month New Jersey’s online gaming regulations were officially published, marking the beginning of a 60-day period for the DGE to receive public comments on the legislation. The regulator had previously set an aggressive go-live date of mid-November.
The window for feedback closes on 2 August, while the date Atlantic City casinos will be eligible to accept online bets will be announced at least 45 days in advance.