The sports betting arena is gearing up for an action-packed time and the Supreme Court’s decision on Monday seems to have set the dice rolling. Churchill Downs Inc did not take too long to announce its plans to enter the New Jersey legal sports betting and online gaming market. This is going to be possible due to its deals with Golden Nugget and SBTech.
Churchill Downs announced their plan on Wednesday, just two days after the Supreme Court allowed all states to legalize sports betting. Churchill Downs also said that they are aiming to accept legal wagers for online gaming and sports betting in the first quarter of 2019 in New Jersey.
Golden Nugget to provide access to license:
Golden Nugget casino in Atlantic City is going to provide the Louisville, Kentucky-based company access to an operating license. This will be particularly helpful as a license to operate an online gambling site is restricted to land-based casinos in New Jersey. However, the casinos are allowed to sub-lease these licenses to their partners.
In his statement, Thomas Winter, Senior Vice President and General Manager, Online Gaming for Landry's Golden Nugget said, “We welcome Churchill Downs, a respected U.S. gaming operator with online wagering experience, to New Jersey.” He added, “The addition of their offering will allow Golden Nugget Atlantic City to cater to an even larger demographic of New Jersey online players.”
Partnership with SBTech to help widen reach:
The strategic partnership with SBTech is going to help Churchill Downs to widen their reach. SBTech will not only provide an iGaming platform, consisting of the consumer website, but also mobile apps, and back-office systems to manage iGaming and sports wagering.
In addition, SBTech will also collaborate with Churchill Downs in Mississippi and Pennsylvania. In Pennsylvania, this partnership aims to cover both sports betting and online casino. This could also be the reason behind Churchill Downs acquisition of Presque Isle Downs & Casino in Erie. Regulated online gambling is expected to be launched around late 2018 or 2019 in Pennsylvania.
On the other hand, the partnership in Mississippi aims to focus on sports betting and sports wagering could even start this summer. Two brick and mortar casinos, Riverwalk Casino Hotel and Harlow’s Casino Resort & Spa are owned by Churchill Downs in the state.
Here is what Richard Carter, CEO of SBTech said, "We are thrilled to be partnering with Churchill Downs and to introduce our award-winning iGaming and sports betting platforms in the US, we both share a deep commitment to technological innovation and excellence with responsible gaming at the center of everything we do, and we look forward to partnering with them during this exciting time in the history of the US gaming market."
Churchill Downs CEO Bill Carstanjen was confident that the experience of operating the largest legal online horse racing wagering business in the country will benefit their latest sports betting venture.