Parx Casino Launches an Online Sportsbook in NJ

New Jersey now has the biggest and most lucrative sports gambling market in the United States. Casinos here, almost all of which are located in Atlantic City, operate both land-based and online sportsbooks. This week, Parx Casino officially launched an internet sports betting platform in this state.

Parx Casino

Parx Casino is one of the most popular gambling venues in Pennsylvania. It’s now entering the NJ sports gambling market. Let’s look at the details of this new online sportsbook and talk about how New Jersey’s sports betting industry is doing right now.

New Jersey’s Sports Betting Revenue Continues to Increase

As we’ve already mentioned, New Jersey now has the most lucrative sports betting market in the country. Amazingly, sports gambling has only been legal and regulated here for a little over a year. New Jersey was the first state to approve sports betting legislation after PASPA was struck down in May of 2018.

For all of 2019, revenue from sports gambling has increased in this state. In August, revenue here boosted by an incredible 13% compared to the same month last year. Gamblers in this state wagered over $293 million that month on sports alone.

The Borgata Hotel & Casino brought in $80 million through its land-based and online sportsbooks. Casino officials claim it was the biggest month since opening in 2004. Hard Rock Atlantic City also had a solid August, bringing in $41 million, up 31% from the same month in 2018.

Even Ocean Casino, which is the lowest-earning casino in Atlantic City, posted solid revenue figures last month. This casino-resort brought in more than $25 million.

Many companies are taking notice of these revenue gains. This week, one of the most popular gambling venues in Pennsylvania announced that it’s breaking into the NJ market.

Parx Casino Announces Launch of NJ Online Sportsbook

New Jersey isn’t the only state to recently legalize sports gambling. 19 states have approved sports betting legislation and 13 have sports gambling platforms up and running. Pennsylvania began offering sports betting options in November of 2018. This form of gambling has quickly grown popular here.

This week, Parx Casino has announced that it’s breaking into the New Jersey sports betting market. This casino, which is owned by Greenwood Gaming & Entertainment, officially launched its internet sportsbook in this state. This new betting platform is now live and available to New Jersey residents.

Parx Casino teamed up with GAN to begin operating its newest online sportsbook. Dan Smurtif, CEO of GAN, commented on the launch to the media this week.

“Launching the largest casino in Pennsylvania online has now logically extended across the border into New Jersey, extending their reach into New Jersey’s fast-growing and established Internet gambling market. This represents an incremental revenue opportunity for GAN and is a logical extension of our technology infrastructure to serve Parx Casino patrons who routinely cross the invisible border between these two populous states.”

It’s exciting news for sports betting fans in the state of New Jersey. There is another major player entering the market.

About Parx Casino and Racing

Pennsylvania is home to a huge number of gambling venues. Perhaps none is as popular as Parx Casino and Racing, located in Bensalem. This venue started off as a horse racing track and has since begun operating a casino featuring 3,330 slot machines, 180 table games, and a poker room.

Parx Casino began operating a land-based sportsbook back in January. It launched its online sportsbook in June. Since that time, it’s become the most popular internet gambling platform in the state. In August, it managed to generate more than $621,000 in sports wagers.

Officials at this casino have discussed plans to break into the New Jersey market for months. The company teamed up with GAN to officially begin offering sports betting options in this state earlier this year.

Residents of New Jersey now have 16 different online sports betting platforms to choose from. We’ll need to wait and see how popular the online sportsbooks from Parx becomes over the next few months.

Stay tuned for more US sports betting news over the next few months!

NetEnt to Supply Casino Content to Pennsylvania

Pennsylvania has been at the center of attention for the last couple of months due to gambling laws being redefined and providing opportunities for new casinos to open. NetEnt is a popular casino software provider which has been awarded a license from this state, and they will have an opportunity to share their content with casino lovers from this state.

The Pennsylvania Gaming Control Board provided a conditional license for NetEnt so that the company can supply content in the newly regulated market of this state. In fact, the company has had the honor to be the first one to supply online gaming products to Pennsylvania, and it has been licensed by the local regulators even before the official market opening.

NetEnt was also quick to submit the application for an Interactive Gaming Manufacturer Conditional License in September 2018, as soon as the changes took place in the US state. This is not the full license but a conditional one which enables NetEnt to provide products to local gambling operators. The full license process is underway and will not be completed until their application is examined in detailed and reviewed by the officials.

Pennsylvania actually legalized online gambling during Q3 and Q4 of 2017, but it is a process that takes time, and legal online casino services are still not live in the state. The state is actually undergoing a gambling industry revolution of a sort which takes time — it is a slow but effective process that would bring additional revenue from gambling taxes and fill the state’s budget. In fact, online casinos are expected to go live during 2019, according to some of the comments made by the Pennsylvania Gaming Control Board regarding this topic.

All of the changes were a consequence of a revised opinion of the Wire Act made by the Department of Justice’s Office of Legal Counsel, which made all the difference and overturned a 2011 opinion that only imposed limits to sports betting. According to the new interpretation, this would affect all forms of online gambling.

This is one of the main reasons why the Pennsylvania Gaming Control Board got scared, along with a couple of regulators from other states where online gambling was legal. The new interpretation really threatened to put an end to the regulated online gambling industry. Therefore, the gambling regulator in Pennsylvania had to make sure that operators are in full compliance with the new opinion on the Wire Act.

What about NetEnt?

NetEnt has inked a content distribution deal with a couple of casino operators while they were waiting for the conditional license to arrive from the Gaming Control Board. One of the deals they signed first was with Penn Online Entertainment, LLC which is a division of Penn National Gaming operator. Another deal that they have managed to sign was with Parx Casino which will go live with Parx Online once the Pennsylvania officials sort everything out.

The Managing Director of NetEnt Americas LLC, Erik Nyman, stated in a press release that they were pleased to have been selected in the first round of licenses. He also said that the expansion fit their strategy related to their live products and that they were happy to be there on the first day of opening.

2019 is definitely going to be very interesting, not only in Pennsylvania but across the entire US as some important changes are taking place regarding sports betting and online gambling. For now, it seems that Pennsylvania is doing a great job and the first result of their effort will be visible mid-2019.