Betfair Snags Regulatory OK For New Jersey Online Gaming Partnership With Caesars

London-based online gaming site Betfair has been approved by the New Jersey Division of Gaming Enforcement to do business with Caesars Entertainment.

Betfair had a deal with Trump Plaza, but that beleaguered casino closed last month after a lot of financial difficulty related to its brick-and-mortar operations.

According to a New Jersey DGE document, the new deal allows Betfair “to locate its equipment related to the operation of its real money, internet based iGaming operations in New Jersey at Caesars.”

The regulatory approval is good for six months.

After the recent casino closings in Atlantic City, Nevada-based Ultimate Gaming also was left without a casino partner in the Garden State. Ultimate Gaming’s product was also struggling a bit in New Jersey, so it ended up just deciding to leave the market.

According to NJ.com, Betfair’s online poker traffic in New Jersey has been almost non-existent, but its online casino has done much better, bringing in $5 million so far this year.

When the Trump Plaza closed, New Jersey regulators were generous enough to give Betfair some extra time to find a partner before deciding whether to leave the New Jersey market.

Under New Jersey’s casino rules, an online gaming site must have a brick-and-mortar partner.

So far in 2014, online gaming revenue in the Garden State is more than $73 million.

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