Resorts Casino Hotel is the latest Atlantic City property to break into online gaming, partnering with London-based Sportech PLC in a deal announced Friday.
The British gaming firm will provide the new Internet betting platform for Atlantic City’s oldest casino through a joint venture with NYX Gaming Group Limited, Sportech said in a news release. Sportech and NYX will each invest up to $2 million in the platform, which is projected to launch in January.
The move comes seven months after the launch of Internet gaming in New Jersey, which was legalized early last year for players inside the state. The law allows Atlantic City casino operators to offer the platform by partnering with online gaming companies.
Six casinos in the resort town currently offer Internet games, but the market has developed more slowly than projected. Figures released last week show the six operators won $10.5 million from online bettors in May, a total that fell for the second straight month and is below the figures envisioned by state officials.
Resorts had been among the earliest casinos seeking to enter the Internet market. The property last year had plans to partner with online gaming giant PokerStars, but an application to regulators was suspended in December amid concerns about the website’s troubled legal history in the U.S.
At the time, the Division of Gaming Enforcement did issue an Internet gambling permit to Resorts. It was unclear Friday if other regulatory approvals were needed.
"We are delighted to have reached this agreement with such a well-known Atlantic City venue,” Ian Penrose, Sportech’s CEO, said in a prepared statement. “The establishment of online gaming activities in New Jersey represents an important next step in the development of our U.S. business, and we are well positioned for future growth across the U.S. as regulation permits. We have worked closely with Resorts and NYX for a number of months now, and look forward to the planned launch.”
Sportech was represented in the deal by Duane Morris attorneys Gil Brooks, Chris Soriano, Eric Frank and Adam Berger, who are based in Cherry Hill, and Baltimore-based Robert Ruben.
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