Betfair US also announced a similar arrangement with Tioga Downs in Nichols, N.Y. Under both agreements, Betfair US will provide sports betting products to customers in New Jersey and New York pending legislative and regulatory approvals.
Betfair US is a subsidiary of Paddy Power Betfair PLC, one of the largest publicly traded sports betting companies in the world. Its brands include Paddy Power and Betfair in the United Kingdom and Europe, Sportsbet in Australia and TVG in the U.S.
Paddy Power Betfair’s brands have 5 million active customers and last year processed over $15 billion in sports wagers, the company said.
"Sports betting is a great opportunity for Meadowlands and Tioga Downs," said Jeff Gural, chairman of New Meadowlands Racetrack LLC and Tioga Downs LLC, in a statement. "We went through a diligent process and reviewed several options to provide customers with the best sports betting experience possible. In the end, Betfair's world leading products and experience proved the best choice. We are eager to get started with our partners, with whom we have had a long relationship for racing with TVG, on this exciting venture."