Resorts Digital Gaming (RDG) said it is in advanced discussions with a major global sports betting company. As part of the pending deal, RDG pulled down its own branded sportsbook in New Jersey while maintaining its online casino platform.
I can’t wait to announce this exciting deal once it is finalized — it really will give RDG the most diverse stable of sports betting brands in the NJ market.The new partner for the company is expected to be a well-known operator but no brand name has been confirmed yet. It is expected that the deal will be wrapped up shortly. The new operator will be the third skin on RDG’s online sports betting license — alongside FOX Bet and DraftKings.
“Unfortunately, we are not able to mention the new partner [at this time] but hopefully should be able to soon,” Ed Andrewes, CEO of RDG, told NJ Gaming Review.
It is the first sign of consolidation in a US state with regulated online sports betting, which is currently legal in 30 states. That number is expected to grow even further in 2022. Whichever operators join the fray in New Jersey will face some stiff competition.
Big names such as Barstool, BetMGM Sports, Caesars Sportsbook, DraftKings, and FanDuel have already carved out their market share. Mobile sports betting operators such as BetRivers and PointsBet have also expanded into several states throughout the last few years. The secret will only remain for a short while, however, and RDG is very much looking forward to the new partnership.
“I can’t wait to announce this exciting deal once it is finalized — it really will give RDG the most diverse stable of sports betting brands in the NJ market,” said Andrewes. “This will also free up our third sports betting skin, allowing us to focus all our energy on our core casino customers,” Andrewes added.
The move by RDG to bring in a new sports betting partner and shut down its own online platform may perhaps come as a surprise at first glance.
RDG’s operating licenses are tied to the Resorts Casino Hotel Atlantic City and have been very successful in 2021. The trio of brands reported $159.7 million in sports betting revenue and ranked second behind the BetMGM-Borgata partnership out of 12 license holders.
Bringing in a new well-known brand may be a challenge for one of the top thriving US iGaming markets. In September 2021, New Jersey became n216488-market-monitor-new-jersey-september-2021. However, with neighboring New York State now also offering legal online and mobile sports betting, growth may slow down.
Any new online gaming operator will have to get approved and licensed by the New Jersey Division of Gaming Enforcement (NJDGE).
While you can no longer place new sports betting wagers via the Resorts brand, all existing unsettled bets will stand. Current Resorts sports betting customers can withdraw their funds and take advantage of the online casino and live dealer games through the Resorts online casino app.
There are no signs that RDG will also surrender its own online gaming platform in New Jersey as well. The brand has exhausted the five possible license partnerships as it also powers the online casino products of Barstool, DraftKings Casino, Mohegan Sun, and PokerStars’ Stars Casino.