Betfair To Stay In New Jersey Online Gaming After Partnership With CIE
Last month’s closure of the Taj Mahal casino in New Jersey was just the latest in the growing problems in the Garden State. According to New Jersey state regulations all online gaming operators have to partner up with an Atlantic City casino in order to operate. With casinos closing by the month in AC this has meant offshore operators are finding it hard to find such partners.
This led to the likes of Ultimate Gaming withdrawing from the New Jersey online poker market last month. The fate of UK listed betting exchange operator Betfair almost became the same as that of Ultimate gaming as their partnership with the now closed Trump Plaza was over.
After being given a grace period to find another AC casino partner, the Division of Gaming Enforcement (DGE) approved a Sublicense Agreement that would enable Betfair to operate under a partnership with Caesars Interactive Entertainment who are the second biggest player in New Jersey following the Borgata.
The agreement has given Betfair a six month extension to partner up with Caesars. The number of AC casinos that are expected to close by year’s end is now five which has led the an idea by state legislators in which online gaming operators would be compelled to promote their land based casinos with online advertisements. The idea behind the bill is to get the word out that the casinos are still up and running for customers to enjoy.