Betfair Finds New Online Partner in New Jersey

Betfaircasino has signed a new partnership with Caesars Entertainment to continue operating its online site in New Jersey. Betfair has previously been partnered with the now-closed Trump Plaza casino. The move has been approved by state regulators.

Unlike Ultimate Gaming, Betfair’s New Jersey online gaming site has survived the turmoil of the Trump casinos in Atlantic City and is now partnered with Caesars Entertainment.

In New Jersey, online gambling sites must be partnered with an Atlantic City casino. Betfaircasino had been partnered with the land-based Trump Plaza casino, but the casino closed its doors last month as Trump Entertainment is in bankruptcy. The state then gave Betfair some time to find a new partner.

The new deal with Caesars Entertainment allows the UK-based company to keep operating. Although Betfair’s online poker services have barely registered in the New Jersey market, the company has been seeing steadily growing revenue from online casino games and slots. Betfair has reported about $5 million in revenue for the year through August.

The state allows New Jersey casinos to partner with several online providers. Caesars Entertainment already operates, and in the state through its three Atlantic City casinos.

The New Jersey Division of Gaming Enforcement has approved a Data Center Sublicense Agreement that would allow Betfair to partner with Caesars Interactive Entertainment NJ. The deal essentially means Betfair’s computer servers will be moved to Caesars’ Atlantic City properties.

Ultimate Gaming, which had been partnered with the Trump Taj Mahal casino, was forced to leave the state. The Taj Mahal is also in bankruptcy and could close in November. Ultimate Gaming closed down operations saying the casino had not paid them their share of online revenue.

Meanwhile, New Jersey state Assembly Gaming and Tourism Committee has endorsed a bill that would require all of New Jersey’s online gambling sites to actively promote their live brick-and-mortar partners. The bill now goes before the full Assembly.