Author: Joe Kizlauskas
Last Updated: 27th January 2021
Online gambling company Esports Entertainment Group, after entering a multi-year partnership with Twin River Worldwide Holdings, outlined plans to launch online sports betting within New Jersey.
The partnership will lead to the launch of the patented mobile sports betting company within the Garden State of Esports Entertainment Group, which hangs on Twin River to receive required regulatory approvals.
Grant Johnson, CEO of Esports Entertainment Group noted: “We are excited to partner with Twin River as we bring mobile sports betting to the New Jersey market.
“When we completed our IPO on Nasdaq earlier this year, it was with the intention of expanding our operations in the US. With this partnership, we’re delivering on that goal.”
Twin River to complete its acquisition of Bally’s Atlantic City Hotel and Casino in Atlantic City is pending regulatory approvals.
Twin River acquires the right to three online sports betting skins in New Jersey upon the acquisition, which leads to the creation of this partnership.
Twin River explained that it was Bally’s $25 m purchase in April, with the sale seeing Caesars Entertainment receiving $6 m, and Vici Properties acquiring the remaining $19 m, in a deal that also saw the company buy Eldorado Shreveport Resort and Casino in Louisiana and MontBleu Resort Casino and Spa in Lake Tahoe, Nevada for $155 m from Eldorado Resorts.
George Papanier, president and CEO of Twin River Worldwide Holdings said: “Esports Entertainment will be a great addition to our growing partnerships with sportsbook leaders around the world, as we currently operate sportsbooks in Rhode Island, Colorado, Delaware and Mississippi.
“Bringing this new, unique offering to the AC market with a prominent gaming partner is one of the many exciting changes we have in store for Atlantic City in the months to come.”
This becomes the latest alliance for Twin River based in New Jersey, after PointsBet has extensive plans to launch its online casino company in the area contingent upon completion of the aforementioned acquisition.