Joshua Burd//October 9, 2014//
Joshua Burd//October 9, 2014//
Gaming website Betfair will team with Caesars Entertainment, allowing it to continue operations in New Jersey after last month’s closure of Trump Plaza left it without its original brick-and-mortar casino partner.In a recent decision issued by state regulators, the London-based website was allowed to “locate its equipment related to the operation of its real money, Internet-based iGaming operations” at Caesars. The approval by the Division of Gaming Enforcement is good for six months.
Under the state’s online gaming law, operators are required to partner with brick-and-mortar casinos in Atlantic City. Betfair originally partnered with Trump Plaza after Internet play went live last fall, but the struggling property closed last month amid the increased competition and sliding gaming revenue that has besieged the resort town.
Betfair had temporary approval to continue operating past the closing date, but it appears to be in New Jersey for the long haul. The company announced in June it was becoming the official online gaming sponsor of Live Nation New Jersey, which operates the PNC Bank Arts Center in Holmdel and Susquehanna Bank Center in Camden.
State officials hoped Internet gaming would help reverse the fortunes of Atlantic City, but revenue from the platform has fallen short of expectations. The six online operators took in $10.5 million in revenue in August, the most recent data available, and about $84 million for the year.
In its partnership with BetFair, Trump Plaza took in about $5 million from Internet gaming through August.
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