On Thursday, Nevada bookmaker CG Technology and Meadowland’s Racetrack in New Jersey announced an NJ sports betting agreement.
In the deal, CG Technology will offer online and mobile wagering in New Jersey with the hopes it will be live before next football season. There will be no retail sportsbook for CG Technology in New Jersey.
“We are delighted to enter the New Jersey market and bring forth our decade-plus of experience catering to customers in the country’s biggest gambling market,” said Parikshat Khanna, CEO of CG Technology. “As an early mover in the Nevada sports wagering business, we always envisioned national expansion that would give American consumers more product options.”
The Meadowlands also commented on the partnership.
“We are excited to announce this partnership with CG Technology,” said Jeff Gural, Chairman, and CEO of the New Meadowlands Racetrack LLC. “We are confident CGT, with its years of experience, will bring some new and inventive offerings that will appeal to the New Jersey online and mobile sports wagering market.”
CG Technology Takes Last Skin on Meadowlands License
CG Technology has quite the portfolio with eight sportsbooks in Nevada, as well as its mobile capabilities through their sports betting app.
CG Technology was hit with a $2 million fine by Nevada for regulatory violations and even considered revoking their license due to accepting out of state wagers. The New Jersey Division of Gaming Enforcement has the same power to do similar things if needed.
Already partnered with FanDuel Sportsbook and PointsBet, the Meadowlands Racetrack sports betting 3-skin license has contributed significantly to NJ Sportsbooks revenue. NJ regulations allow for 3-skins on a sports betting license. With this deal, the Meadowlands Racetrack is the first land-based casino to utilize all 3.
Meadowlands Racetrack becomes 1st in NJ to complete its 3-skin online sports betting portfolio, adding CG Technology to its previous deals w FanDuel & PointsBet, per teammate https://t.co/Ydm0UvIQ4C pic.twitter.com/15scaIidK5
— John Brennan (@BergenBrennan) February 7, 2019
Now, there are a dozen mobile platforms in the Garden State as the home to Atlantic City continues to expand their sports betting horizons. It is anticipated that NJ will have 25 online sportsbooks or mobile apps “live” by the end of 2019. Most industry experts believe the NJ market cannot support that level of action.
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