After securing approval for casino provisions on the New Jersey market, Gambling technology firm Playtech has lauded a “major milestone.”
Following a multitude of agreements entered into last month , the company has reported that the New Jersey Division of Gaming Enforcement has given regulatory approval to supply the drug to the region.
Starting within the jurisdiction in the near future under its transactional waiver with bet365 and Hard Rock Atlantic City, Playtech plans to launch with additional operators in New Jersey in due course and has also begun the licencing process in other jurisdictions in the US.
Playtech chief executive Mor Weizer commented on the development: “This is a major milestone for Playtech. We are delighted to have met the stringent regulatory requirements of the DGE and to be launching in New Jersey with our long-standing strategic partner bet365.
“The US is a highly strategic market for Playtech and we see significant demand for the full breadth of our product offering. We are initially launching our online casino product in New Jersey and over time will increase our products on offer to include sports, platform, and live casino and we will continue to expand into further states as they regulate. This is the first step for Playtech in the US and we are very excited about the long-term opportunity.”
New Jersey sportsbooks closed April last month at a low of two years, continuing the pattern set a month earlier as the online casinos of the Garden State boomed during the month.
Igaming companies and poker rooms in the area created the highest revenue of $79.96 m ever, up 118.6 percent from $33.6 m a year earlier, with poker tripling its figures from February to $5.15 m record, up from $3.6 m a month earlier as well.
Despite this, year-over-year revenue gains of $43.4 million replace just 20.9 percent of the $207.6 million in revenue created by land-based casinos in Atlantic City in April 2019.