New Era for Sports Betting in New Jersey with Major Global Player
In the ever-evolving landscape of sports betting in the United States, New Jersey has consistently been at the forefront, pioneering significant shifts and trends. In a recent development that’s set to further cement its status as a hub for sports wagering, Resorts Digital Gaming, LLC (RDG) has announced it is on the verge of finalizing negotiations with a prominent global sports betting entity. This partnership is poised to introduce a new dynamism to the New Jersey sports betting market/news/esports/vie-gg-launches-dive-into-new-jersey-esports-betting-now/” title=”VIE.gg Launches: Dive into New Jersey Esports Betting Now!”>New Jersey sports betting market.
Resorts Digital Gaming was acquired by Boyd Interactive (a division of Boyd Gaming) on September 1, 2024, for an undisclosed amount, adding ResortsCasino.com and MoheganSunCasino.com to Boyd’s New Jersey online casino portfolio
Following the cessation of sports betting services via ResortsCasino.com just hours after Super Bowl 56, RDG is making strategic moves to broaden its offerings. The international company, which is yet to be named but noted for its global presence and new to the USA, will operate under RDG’s New Jersey sports betting license alongside existing brands Fox Bet and DraftKings. This inclusion not only diversifies the sports betting options in New Jersey but also strengthens RDG’s position in the market.
The Impact of a New Global Player
As of 2021, Resorts Digital reported $159.7 million in combined revenue across DraftKings, Fox Bet, and Resorts brands, ranking No. 2 among the 12 New Jersey sports betting license holders, with the Meadowlands Racetrack (operating FanDuel, PointsBet, and SuperBook) leading at $451.8 million
Speculation is rife with potential candidates for this partnership, including renowned names like 5Dimes, Pinnacle, BetCRIS, and BetOnline. However, the path to securing a license for these companies is fraught with regulatory challenges, particularly due to their operations in jurisdictions considered illegal by US regulators. Despite these hurdles, the anticipation for the announcement of this partnership underscores the significance of New Jersey’s sports betting ecosystem and its attractiveness to global players.
“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,” said RDG CEO Ed Andrewes, expressing enthusiasm about the forthcoming announcement and its implications for RDG’s focus on core casino customers.
The article references events from early 2022 (the pending partnership announcement and Super Bowl 56 timing), but this content appears to be from that period and should be contextualized as historical rather than current developments, as the Boyd Interactive acquisition has since fundamentally changed Resorts Digital’s corporate structure and operations
This partnership, while enhancing RDG’s offerings, does not alter its existing agreements with Fox Bet or DraftKings but does require approval from the New Jersey Division of Gaming Enforcement. Furthermore, RDG reassured that the discontinuation of the Resorts Sportsbook will not affect any pending bets, with customers having until March 1 to withdraw funds. Post this deadline, funds can be accessed via Resorts Online Casino accounts.
The Broader Context of Sports Betting in New Jersey
New Jersey’s pioneering role in legal online sports betting, following the 2018 Supreme Court decision that overturned PASPA, has set a precedent for other states. In 2021, New Jersey led the nation in sports betting revenue, with over $10.9 billion in bets placed. This achievement underscores the state’s dominance in the field, despite the emerging competition from neighboring New York, which has recently launched its own sports betting market. Notably, New Jersey’s sports betting handle for the Super Bowl surpassed the previous season’s, even as New York set a new national record for sports betting handle in a single month.
The introduction of a major global sports betting company under RDG’s license is poised to further elevate New Jersey’s stature in the sports betting arena. This move not only diversifies the market but also invites more players and stakeholders to consider New Jersey as a prime destination for sports wagering activities.
As the sports betting landscape continues to evolve, New Jersey’s strategic partnerships and regulatory framework serve as a model for other states looking to capitalize on this lucrative industry. The state’s ability to attract global companies underscores its position as a leading market for sports betting in the USA.