Betfair To Remain In New Jersey Despite Trump Plaza’s Closure
London based gambling giants, Betfair, have been given leave by the New Jersey Division of Gaming Enforcement to continue accepting wagers in New Jersey despite the impending closure of its land based partner, Trump Plaza, which is set to close its doors on September the 16.
The Gaming Enforcement Division has allowed the online casino to seek out new partners due to the Trump Plaza’s financial woes being no fault of the online casino whose revenue, although lower than originally expected, has still exceeded $4 million in the first half of the year.
However, finding a new partner is easier said than done, with the closing of the Trump Plaza, it’ll bring the tally of closed casinos up to four and with the Trump Taj Mahal filing for bankruptcy and issuing its staff with WARN notices, the number of casinos available to Betfair has been brought down to 7.
Of the remaining casinos, only four could be viable partners: the Golden Nugget Atlantic City, the Tropicana, Borgata and the Resorts Casino Hotel. The remaining three, Caesars Atlantic City, Harrah’s and Bally’s are all owned by Caesars Entertainment who have online gambling commitments of their own with their Caesars Online Casino.
As big a reprieve as it is for Betfair, they will need to make sure they find a new partner soon as their reprieve ends the moment the Plaza hands over its casino license to the DGE, which could be as soon as the next few months.
In a statement to the associated press, the DGE Director said: “There is time available for Betfair to enter into a deal with another Atlantic City Casino. They want to remain fully functional and stay in New Jersey, and we will work with them to do that”.
As big a hurdle as finding a new partner may be, it is highly unlikely that Betfair will give up on New Jersey so easily and will likely fight to stay in Atlantic City. The fledgling US casino market, while not showing the promise that was first foretold, is beginning to grow. Also, with many other states beginning to open their eyes to the online gambling industry, it will put Betfair in a prime position to enjoy exponential growth.
Possibly, one of the last options for Betfair would be to purchase and operate a casino of its own with several properties within the area looking to offload, even after massive efforts are being made to revive Atlantic City, including the legalization of Sports Betting in casinos and racetracks. However this would be a very costly affair and whatever they choose to do, they only have a few months to do it in.
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