The casino industry giant, Playtech, entered the New Jersey market following the approval of the state regulator. Under a transactional waiver, the company will launch products to bet365 and Hard Rock Atlantic City.
Playtech Allowed to Launch Casino Products by NJ Regulator
Gaming industry giant Playtech has announced exciting news as the company received an official approval to launch products in the state of New Jersey. The state’s regulator, New Jersey Division of Gaming Enforcement (NJDGE), has given Playtech a go-ahead to launch casino products with bet365 and Hard Rock Atlantic City.
This launch was facilitated with the help of a transactional waiver, thus allowing Playtech content to be featured for those providers. Playtech is expected to go live pretty soon but the company may also team up with more operators in New Jersey. Although Playtech is making the first steps on the US market, there is a high chance that the company will look for expansion and licensing in more states.
New Jersey has seen a string of new companies arrive on the market, with companies consolidating their footprint in the Garden State despite the temporary suspension of business.
Playtech CEO Mor Weizer Comments on the Development
Here is what Mor Weizer, CEO of Playtech had to say about the company’s entry on the NJ market: “This is a major milestone for Playtech. We are delighted to have met the stringent regulatory requirements of the DGE and to be launching in New Jersey with our long-standing strategic partner bet365.” Weizer continued by saying that the US market is a strategic location for the company.
Furthermore, Playtech can see the growing demand for gaming products. Weizer did not miss to say that the current launch includes online casino products but the company will be looking to expand further in the near future and start offering products that include live casino and sports betting. In conclusion, Weizer noted that with the New Jersey market being the first step, Playtech will continue to expand its presence into the regulated market of other US states.
As Playtech sets up its shop in New Jersey, the Garden State is preparing to reopen casinos with Gov. Phil Murphy citing July 4 as the most likely opening date for the industry. NJ will see 400,000 workers go back to work and by the time the Garden State reaches Phase 2, casinos will be able to operate at 50% occupancy. The real issue remains whether casino players will return to sustain the industry after reopening. Playtech’s investment seems to suggest as much.
Playtech has a deep footprint in iGaming, including a previous partnership with GVC to launch a new live studio.