theScore Bet to Enter NJ iGaming Market with Twin River
Score Media and Gaming Inc. is joining the New Jersey online casino market.
TheScore Bet has reached a partnership agreement with Twin River Worldwide Holdings to operate an online casino in New Jersey, according to a news release. The anticipated start of theScore Bet’s online casino is set for the second half of 2021, pending licensing and regulatory approvals from the New Jersey Division of Gaming Enforcement.
TheScore agreement is contingent on Twin River completing the acquisition of Bally’s Atlantic City Hotel and Casino. The sale to Twin River was part of the Caesars-Eldorado merger.
It’s the second iGaming skin deal for Twin River in New Jersey this month. On Aug. 6, Twin River and PointsBet announced a partnership.
For the Toronto-based theScore, the 10-year agreement is a move to complement its sport betting platform and to reach a wider audience.
“The addition of our online casino offering to our award-winning and truly differentiated mobile sports betting platform broadens our reach and deepens our strong portfolio of assets,” John Levy, founder and CEO of theScore, said in a news release. “This is yet another step toward providing theScore’s media and betting patrons with a completely holistic and tightly integrated media and gaming experience.”
The coronavirus pandemic has led to an increase in the New Jersey internet gaming market. With casinos shutting down in mid-March, players began using online gaming to play from their homes. In June, the internet gaming revenue was $85 million after it reached $86 million in May.
“We are excited to partner with theScore and to provide our Atlantic City guests with a highly-personalized iGaming experience,” George Papanier, president and CEO of Twin River, said in a news release. “We look forward to working with them and engaging our guests as they leverage this new, exciting platform.”
Twin River Active with Skins
For Twin River, the agreement comes after numerous other expansions and deals. In April, it reached an agreement to buy Bally’s Atlantic City from Caesars Entertainment and Eldorado properties in Louisiana and Nevada. The Bally’s deal gives it multiple sports betting and online casino skins in New Jersey.
Twin River reached a sports betting partnership deal with Esports Entertainment, a Malta-based gaming company that focuses on eSports wagering and 18-plus gaming, on Aug. 20. On Tuesday, Twin River agreed to a deal with Sporttrade, Philadelphia-based company that plans to bring a sports betting exchange to New Jersey. It would be the first sports betting exchange in the U.S.
Under the agreement with theScore, Twin River, a casino company based in Rhode Island, will receive a percentage of revenue derived from theScore Bet’s online casino operations in New Jersey, according to a news release.
In addition to the original 10-year agreement, the deal can be extended by five years at theScore’s option, and has an option for another five-year renewal term upon mutual agreement between theScore and Twin River.
theScore Continues to Expand
TheScore is currently taking wagers in New Jersey through a deal with Monmouth Park Racetrack. It launched mobile sports betting in September 2019. And Colorado and Indiana are up next for the company.
On Aug. 5, theScore received approval from the Colorado Division of Gaming to offer sports betting in the state. The company could launch its app by the end of this month or early September through a market access agreement with Jacobs Entertainment.
On July 10, theScore received GLI-33 certification for its mobile sports betting app and the sportsbook player account management platform it plans to deploy in Indiana. It gained market access through an agreement with Penn National Gaming Inc. and anticipates launching theScore Bet in Indiana later this summer.
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