Betfair and Golden Nugget Reveal Details of Partnership
Betfair has experienced a tumultuous beginning to its ambitious US campaign and, after being forced to terminate a partnership with Trump Plaza, has been able to find another Atlantic City Casino to hitch it’s wagon to after announcing a new partnership with the Golden Nugget.
Following the closure of the Trump Plaza in September of this year, Betfair has been in limbo and while they did have a temporary agreement with Caesars and were given leave to continue operations by the New Jersey Division of Gaming Enforcement, it was not without it’s problems, chief of which was Caesars very own online casino.
After the talks between the two companies had been completed in the later parts of November, Golden Nugget announced the launch of its own online casino in New Jersey as well as the owned and managed by Betfair. Both casino websites will operate independently however they will both be registered under the single New Jersey Gaming permit held by the Golden Nugget Casino.
“We are very excited to move our operations to the Golden Nugget Atlantic City, one of the premier resort destinations in New Jersey,” said Senior Vice President of Gaming for Betfair in the US, Don Ryan. “With this relationship, Betfair and Golden Nugget are well positioned to accelerate growth in 2015 and beyond.”
Thomas Winter, the Vice President of Online Gambling for Landry’s Golden Nugget went on to say that the Golden Nugget has welcomed Betfair and believes the combination of the two, very complementary brands, will allow the casino to attract and cater for a larger demographic of new online gamblers within the State of New Jersey.
The two websites being hosted by the Golden Nugget are both on rise and are among the few casinos in New Jersey to show positive growth over the course of the past few months. In October alone, Betfair managed to earn $855, 869 whereas the Golden Nugget finished above them with just over $1, 000, 000. The two sites combined, have cornered roughly 25% of the fledgling New Jersey iGaming market and are nearly in line with the likes of Borgata, the market leader, and Caesars, Betfair’s former partner. A positive sign for the embattled city, which has seen four casinos close already, with the fifth set to close next month.
Although there have been many questions regarding the ending of the temporary partnership between Caesars and Betfair, upon close examination of the agreement, it will show that the deal was for the housing of the casinos servers whilst the online casino giants found a new partner.
Were Betfair unable to find a new partner, their servers would have been moved to Bally’s for six months before the New Jersey Gaming Division would have stepped in.
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