Wynn Plans to Run Online Gambling from Caesars Atlantic City According to Bloomberg
According to Bloomberg, Wynn Resorts Ltd. plans to run it’s online gambling business in New Jersey from Caesars Atlantic City, according to a person with knowledge of the situation.
Wynn doesn’t own a casino in the Garden State — the company was linked to the Atlantic Club at one point — but both Wynn and Caesars Entertainment Corp. are working alongside 888 Holdings Ltd.
New Jersey requires that casinos have a physical presence with computer hardware in the state in order to offer online gaming, and H2 Gaming Capital estimates this could be a $7.4 billion market in the United States.
“As the online business rolls out on a state-by-state basis, everyone will need to partner with someone,” Itai Frieberger, the chief operating officer of 888 told Bloomberg. “You’ll find very strong partnerships in some cases with competitors in order to get a license.”
Frieberger declined to give a location for Wynn’s computers.
Michael Weaver, a Wynn spokesperson, declined to comment. Seth Palansky, Vice President of Corporate Communications for Caesars, said the arrangement between Caesars and 888 isn’t exclusive.
Wynn and Caesars are both competing for the sole casino license to be awarded in Boston in 2014. Wynn wishes to build a casino on the famed Mystic River waterfront, while Caesars plans to build at the Suffolk Downs racetrack.
888 already provides software for Caesars’ WSOP.com and plans to provide software for Wynn on the All American Poker Network.
“We could have 10 different brands operating in the U.S. by the end of the year,” Frieberger said.
Photo courtesy of NJ.com