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Resorts Atlantic City has a second dance partner for New Jersey sports betting.
SBTech announced on Monday it had signed an agreement with Resorts Casino Hotel to “provide its sportsbook solution across on-property, online and mobile channels” in NJ.
“Our strategic partnership with Resorts represents the next stage of our long-planned penetration of the US market,” Richard Carter, CEO of SBTech, said in a press release. “SBTech’s renowned commitment to delivering leading-edge solutions across all channels and intelligent responsible gaming infrastructure will help us develop a sports betting offering that will benefit our partners and promote best practice and the strongest levels of consumer protection.”
And here is Mark Giannantonio, President and CEO of Resorts Casino Hotel: “After conducting a comprehensive selection process to find the right sports betting supplier, we feel that SBTech offers the right combination of deep regulatory expertise in the world’s most dynamic and demanding markets and the scalability to support our ambitious multi-vertical plans.”
SBTech stated that its platform would allow Resorts to implement a “bespoke risk management strategy,” or the ability to manage its liabilities on wagering outside of wider risk management strategies across multiple state/platforms as sports betting rolls out across the US.
NJ sports betting became a reality a few short weeks ago, with a new law passed in the wake of the US Supreme Court decision in May striking down the federal ban on sports wagering.
Online sports betting could come as soon as a week and a half ago, as wagering outside of land-based facilities was authorized 30 days after the June 11 law was enacted.
SBTech is looking like it will be a major player in the emerging sports betting industry, based on the results so far in New Jersey.
The company adds the Resorts deal to one already in place with Churchill Downs Inc. to provide its online sports betting platform, via the Golden Nugget casino license.
The deals simply exist in parallel, as different casinos in the state can operate more than one channel for online sports betting.
The SBTech deal is termed as covering Resorts’ land-based sports betting, so it makes it seem as though the DraftKings relationship will only exist via online channels. In any event, the physical sportsbook at Resorts AC powered by SBTech would not appear like it will have DraftKings branding.
In any event, it’s clear Resorts is looking to be a major player in the sports betting industry, even though it will be far from first to market with a physical book.