New Jersey Gambling Market Witnessed New Alliance: Esports Entertainment Partnered With Twin River

Article by : Helen Sep 2, 2020

It looks like the New Jersey market will be reinforced with another strong player this year. After lengthy negotiations, Esports Entertainment Group, one of the most popular eSports betting services, has confirmed its partnership with the equally well-known Twin River Worldwide Holdings platform. It seems like such a merger can become the most resounding one in 2020.

The primary goal of this partnership was to ensure entry into the New Jersey market. Earlier, Twin River expanded its investment portfolio, enriched with two casino assets at once in July 2020. New properties are located in Missouri and Mississippi, and the total amount of the transaction exceeded $230 million. As a result of the new merger, Esports Entertainment plans to launch an exclusive mobile app. This software product will allow New Jersey players to place bets on a wide variety of sports championships. It’s no secret that today eSports betting is under the full control of the State’s Division of Gaming Enforcement.

However, the newly minted operator is counting on the January bill’s adoption, which could weaken the current restrictions. One of the law’s essential points is the permission to place bets on eSports and traditional sports. Today, we already know for sure that the A637 bill received the necessary support from New Jersey authorities and is currently in the Senate. Once all the relevant regulations are adopted by the state and the appropriate committees, the new operator will immediately take off.

The subsequent development of the situation also depends on the Twin River. The company is currently at the final stage of the acquisition of Bally’s Atlantic City Hotel & Casino. The partnership with the Esports operator can further develop after the Twin River will receive all the necessary approvals from the state regulatory authorities.

It looks like 2020 was a crucial historic point for the company to acquire new assets. In April 2020, the Esports operator decided to buy one of the casinos owned by Caesars Entertainment. One of the deal’s main terms was that Eldorado Resorts and Caesars Entertainment would merge into one company. And so it happened, and the merger occurred last month.

After acquiring a new casino, the operator will instantly become the copyright holder of 3 licenses for online sports betting in New Jersey. According to the preliminary agreements, Esports Entertainment will be entitled to get one of them under the terms of a previously signed partnership agreement. Esports Entertainment chief executive Grant Johnson said the partnership with Twin River would provide New Jersey residents with unique mobile sports betting service.

In early 2020, the company completed an IPO on the Nasdaq. Thus, the platform planned to expand its influence in the US markets by signing a strategic partnership with Twin River.

The signing of a partnership agreement with Esports Entertainment is a strategic step that will allow the company to expand its partnerships with global betting companies

George Papanier, Twin River president and chief executive

It appears that the collaboration between the two popular services became possible right after Esports Entertainment finalized the acquisition of Argyll Entertainment along with all of its subsidiaries. Twin River Worldwide Holdings, Inc. owns and operates nine casinos as well as one racetrack. The operator’s assets include at least 600 slot machines in casino gaming halls and about 4,000 slot machines concentrated in entertainment complexes and hotels. The operator has managed to gain popularity due to the high level of service that it offers to visitors in its regional, tourist, and resort gaming establishments.

Helen

Chief Editor

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