Bet365 eyes New Jersey license through Hard Rock partnership
Stoke-headquartered firm expected to launch under its own brand pending full regulatory approval
Bet365 has agreed a licensing partnership with the newly-opened Hard Rock Casino and Hotel in New Jersey.
The two companies have received temporary approval from the New Jersey regulator to conduct “sports wagering-related business”.
The temporary approval, first spotted by PlayNj.com, is valid until the end of July, as bet365 seeks a full New Jersey gaming license.
EGR understands the agreement is bet365’s route to obtaining a New Jersey license, and the firm is planning to launch under its own brand rather than powering a Hard Rock sportsbook.
New Jersey license holders are allowed three sports betting skins each, with the Hard Rock also expected to launch a sportsbook of its own.
The operator launched its online casino this week, powered by GIG, with a sportsbook to follow “eventually, although a provider was not specified.
The agreement is also the first major US deal announced by 365 since the market opened up in May.
US analyst Eilers and Krejick called the Stoke-headquartered firm the “800 gorilla” in the room, adding: “One thing we’re sure about; the path to market that bet365 chooses will have a material impact on how legal U.S. sports betting rolls out.”