Only a few hours after the conclusion of Super Bowl 56, change is coming to the sports betting market in New Jersey.
After revealing to customers that effective Monday it is no longer offering sports betting in New Jersey via ResortsCasino.com, Resorts Digital Gaming, LLC (RDG) announced Tuesday it is in advanced negotiations with “a major global sports betting company” to operate under RDG’s New Jersey sports betting license.
RDG’s license provides the company with three “skins”, or mobile apps. The unnamed international company — “new to the USA”, according to the headline of the press release — will join Fox Bet and DraftKings as brands operating under RDG’s license in New Jersey.
While speculation falls to well-known global sports betting brands such as 5Dimes, Pinnacle, BetCRIS, and BetOnline, these companies would face regulatory hurdles in securing a license in this country, since they operate in what many regulators consider an illegal manner (accepting bets from the U.S. despite not being licensed to do so).
“I can’t wait to announce this exciting deal once it is finalized — it really will give RDG the most diverse stable of sports betting brands in the N.J. market,” RDG CEO Ed Andrewes said in the statement from the company. “This will also free up our third sports betting skin, allowing us to focus all our energy on our core casino customers.”
While a third deal would not upset RDG’s arrangements with Fox Bet or DraftKings, it requires approval from the New Jersey Division of Gaming Enforcement.
RDG announced that the shuttering of the Resorts Sportsbook does not impact any outstanding bets, and that customers will have until March 1 to withdraw funds from their accounts. After that date, users can access their funds through their Resorts Online Casino accounts, which will still be operational.
Sports Betting In New Jersey
New Jersey was one of the first states to launch legal online sports betting after the U.S. Supreme Court in 2018 struck down PASPA, the law that prohibited the activity in all states but Nevada and few others.
New Jersey was the top revenue-earning sports betting state in the U.S. in 2021, with more than $10.9 billion in handle in 2021.
While neighboring New York’s launch into the market last month is expected to have at least some impact on New Jersey, Super Bowl handle in the Garden State surpassed last season’s. Last October, New Jersey set a national record with $1.3 billion in sports betting handle in a single month, but New York eclipsed that mark in just three weeks in January.