37 Companies Apply for Internet Gaming Licenses in New Jersey
The New Jersey Division of Gaming Enforcement has received license applications from 37 companies looking to enter the state's real-money online gambling market later this year. Each of the firms filed the necessary paperwork before Monday's deadline and now wait on state regulators for approval.
“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 names of the firms won't be disclosed until they are approved by the state, but many have already announced partnerships ahead of the state's highly-anticipated launch. So far, 10 of the 12 Atlantic City Casinos have partnered up with online gaming providers. The two remaining properties are Revel, which recently emerged from Chapter 11 bankruptcy, and the Atlantic Club Casino, which had agreed to a partnership with PokerStars before pulling out last month.
PokerStars, bwin.party, Ultimate Gaming and 888 Holdings are among the leading internet gaming providers who have partnered with land-based casinos in New Jersey. PokerStars, owned by The Rational Group, teamed up with Resorts Casino Club this month to offer its services in the state. Bwin.party united with the Borgata Hotel Casino & Spa, while 888 Holdings partnered with Caesars Entertainment Corp., and Ultimate Gaming teamed up with Trump Taj Mahal Casino Resort.
British-based 2UP Gaming entered the fray last week when it joined forces with an Asian investment group to devote $330 million toward building or purchasing a casino in Atlantic City. 2UP Gaming will need a connection to a land-based casino in order to enter the market.
New Jersey was the third U.S. state to approve online gambling in one form or another. Nevada, which had a poker-only bill signed into law earlier this year, is currently the only state running its enterprise. Internet gaming operator Ultimate Gaming was recently given final approval for real-money online poker within the Silver State's lines.
New Jersey is expected to be the next to follow. The projected launch date set by regulators is Nov. 26.