Betfair has to find a new land-based partner to continue operating in New Jersey
September 8, 2014
The New Jersey Division of Gaming Enforcement (DGE) has authorized Betfair to continue operating its online gambling website in the Garden State even though its land-based partner Trump Plaza is closing its doors for good mid-September.
Following the announcement of the Trump Plaza shut down in New Jersey, Betfair had introduced a petition asking to be involved in any future discussions regarding its online operations in New Jersey and to be able to continue operating despite the Trump Plaza closure, arguing that it had “invested substantial resources in New Jersey” and that its online products are “consistent with the high standards established in the Casino Control Act”.
In its response to Betfair petition, the DGE stated that Betfair’s interest was “sufficient to merit participation” but it would be limited to the submission of a brief or other written filing. The New Jersey’s regulator has also granted approval for Betfair to continue operating in the Garden State until the DGE ‘directs the surrender” of the Trump Plaza’s interactive gaming license. “The Division will consider input from all involved parties to ensure a smooth transition as Trump Plaza winds down its operations and as Betfair continues its egaming operations in the state”, DGE spokeswoman Kerry Langan said.
Last week, Betfair US announced an increase of 26% in revenue for the first quarter of this year, driven by an 18% increase in TVG handle and the contribution for the New Jersey online casino, which launched during the third quarter of the financial year 2014. Wagering volume growth in TVG included a strong mobile performance following the introduction of its iOS App, which remains the only one in the market.