Hard Rock Casino in Atlantic City is making a major push to enter the NJ sports betting realm in 2019. They have partnered with an affiliate company of bet365, named Hillside, which is based out of New Jersey. The relationship between Hard Rock and bet365 (Hillside) became official in June 2018, when the two parties were granted approval by state regulators.
The relationship between the two has already cleared some hurdles en route to joining the NJ sports betting wave. The first of these hurdles was a transactional waiver, which must be approved by the New Jersey Division of Gaming Enforcement (DGE). The waiver was approved in December of 2018, and allows the two parties to conduct business with one another. This approval allows a company like bet365 to enter the NJ sports betting or casino market, which otherwise wouldn’t be allowed on its own before a final “plenary licensure”.
What does the transactional waiver do for the Hard Rock sportsbook?
The transactional waiver allows bet365 to join Hard Rock in doing business prior to the license being finalized with a plenary licensure. Since 2013, transactional waivers have become commonplace in New Jersey, and have coincided with the legalization of online gambling that same year.
The goal is to bring NJ sports betting to the casino formerly known as the Trump Taj Mahal, a goal that is expected to come to fruition early on in 2019.
Hard Rock and bet365 both have major partnerships as sports betting continues to grow
Hard Rock’s main partner in the betting realm is Gaming Innovation Group (GiG), but this venture will feature bet365 in NJ sports betting. GiG is responsible for all of the gaming for Hard Rock, including online wagering, on-site terminals, and in-person wagering.
Conversely, bet365 is looking to expand its presence, not only in NJ sports betting, but other states as well. They reached a partnership in November 2018 with New-York based Empire Resorts, as they look to bring not only an online casino, but a brick and mortar sports betting site in New York.
Resorts World Catskills will be the home to their next venture, which is located just outside of Manhattan. This news is huge, as the Resorts World Catskills is one of just four locations that have been authorized to provide sports betting in the state of New York. The New York sports betting realm leaves plenty of potential revenue for operators, and with a new presence in both NJ sports betting and NY sports betting, these moves could mean big things for bet365.
For those who may not know, bet365 is the largest in the world in terms of online sports betting revenue, with more than $3 billion reported annually. These moves will surely increase their revenue, as well as their presence in the new booming NJ sports betting industry, among others.
Well regarded in the sports betting world, bet365 has been hugely successful at the “eGamingReview” awards, which were held in London in October 2018. Winners of best mobile product and sports betting operator, bet365 is looking to parlay their success overseas, and in the online realm to continued success in the United States as sports betting continues to grow.