Monday's deadline of July 29th found the New Jersey Division of Gaming Enforcement on the receiving end of license applications filed by 37 companies. The companies are looking to be part of the state's real-money online gambling platform when it kicks off later this year. After filing the necessary paperwork, the companies now wait for approval from state regulators.
“We see this as the first round of filings and we expect that more applications will be filed as the start of Internet gaming moves closer,” said division director David Rebuck in a statement. “The July 29th deadline does not preclude someone from filing for a license in the future. All proposals will be considered as they are received.”
The state's highly-anticipated launch of online gambling has led more than one of the firms to announce partnerships — the names of the firms will not be released until they achieve state approval. Ten of Atlantic City's 12 casinos have already arranged to partner with online gaming providers. The two companies that have not partnered to date are Revel (recently emerging from Chapter 11 bankruptcy) and the Atlantic Club Casino (pulled out of a partnership agreement with PokerStars last month).
The leading internet gaming providers that have locked up partnership deals with New Jersey's land-based casinos are: PokerStars, bwin.party, Ultimate Gaming, and 888 Holdings.
- The Rational Group, PokerStars parent company, partnered up with Resorts Casino Club to offer its services in the state earlier this month.
- bwin.party and the Borgata Hotel Casino & Spa.
- 888 Holdings partnered with Caesars Entertainment Corp.
- Ultimate Gaming teamed with Trump Taj Mahal Casino Resort.
An Asian investment group and British-based 2UP Gaming joined forces to devote $330 million for the purchase or building of a casino in Atlantic City; 2UP Gaming needs a land-based casino connection to enter the New Jersey market.
New Jersey became the third state to approve online gambling — Nevada was first out of the gate. New Jersey's online gambling allows a casino style gambling while Nevada is a poker-only bill but Nevada's online gambling enterprise is up and running with Ultimate Gaming out in front. Ultimate Gaming recently received final approval for real-money online poker.
The projected launch date for New Jersey's online gambling is November 26th and puts it in position to be the next state to follow Nevada's lead.
Image courtesy of wikitravel.org.