Author: Joe Kizlauskas
Last Updated: 30th January 2021
After aligning with Philadelphia-based sports betting company Sporttrade, Twin River Worldwide Holdings has confirmed its latest partnership focused on New Jersey.
The partnership will lead to the launch of the patented sports betting exchange company of Sporttrade in the Garden State pending regulatory approvals which will give Twin River the right to three skins in the area for online sports betting.
Beginning is pending on Twin River being awarded green light to complete its acquisition of Bally’s Atlantic City Hotel and Casino in Atlantic City.
Twin River detailed that it was Bally’s $25 m acquisition in April, with the transaction seeing Caesars Entertainment receiving $6 m, and Vici Properties gaining the remaining $19 m, in a deal that also saw the operator acquire Eldorado Shreveport Resort and Casino in Louisiana and MontBleu Resort Casino and Spa in Lake Tahoe, Nevada for $155 m from Eldorado Resorts.
Alexander Kane, founder and CEO of Sporttrade commented: “We are thrilled to partner with Twin River as we prepare to introduce a truly differentiated product to the New Jersey market.
“By applying capital markets technology and market structure to the US sports betting ecosystem, we are creating something revolutionary. Sporttrade will establish a first-of-its-kind sports betting venue that will be fair, liquid, and transparent, and we look forward to offering customers innovative betting products at significantly lower costs than traditional sportsbooks.”
Earlier this month, after forming a multi-year relationship with the casino operator, Esports Entertainment Group announced plans to introduce electronic sports betting within New Jersey.
This followed PointsBet outlining plans to launch their online casino company in the area contingent upon completion of the aforesaid acquisition.
George Papanier, president and CEO of Twin River, said of the firm’s latest partnership: “Sporttrade will be a great addition to our list of unique partnerships we are building in the Atlantic City market.
“They will bring a new, exciting online product offering for our guests and we look forward to having them join our Atlantic City team.”