Score Media and Gaming Inc has been given access to run an online casino for Twin River Worldwide Holdings Inc. in New Jersey.
Said John Levy, founder and CEO of theScore:
“The addition of an online casino offering to our award-winning and truly differentiated mobile sports betting platform broadens our reach and deepens our strong portfolio of assets. This is yet another step towards providing theScore’s media and betting patrons with a completely holistic and tightly integrated media and gaming experience.”
A Long Term Deal
In an announcement made on Thursday, Score Media subsidiary theScore Bet said that it signed a long term deal with Twin River for the opening of an online casino in the Garden State. The launch is expected to be in the second half of 2021, subject to the procurement of the necessary permits and licenses from the New Jersey Division of Gaming Enforcement.
Under the agreement, Twin River will receive a percentage of the revenue made by theScore Bet in its online casino operations in New Jersey, subject to minimum guaranteed amounts and an upfront fee.The contract is for 10 years but theScore Bet has the option to extend the pact for another five years plus five more years if both parties consent.
Contingent on Bally Atlantic City Purchase
Score Media has been taking bets in New Jersey since 2019 when it launched its sports betting app there. The Canadian betting company is close to opening its doors in Colorado and is in the process of securing regulatory approvals in Indiana. theSports Bet was named as the Best Online Mobile Sports Betting Experience at the Cynopsis Sports Media Awards earlier this year.
Meanwhile, Twin River is entering the Garden State via a $25M acquisition of Bally’s Atlantic City in Boardwalk. The deal, announced in April, is currently under works but has not been finalized. Twin River’s covenant with theScore Bet is contingent on the completion of the purchase.
Twin River Serious in New Jersey
Based on its recent moves, Twin River is serious in New Jersey and it is looking to maximize the potential of its purchase of Bally’s. The treaty with theScore Bet is its third big move in two weeks that is related to its Garden State business.
Twin River entered into a sports betting contract with Esports Entertainment Group last week. Just this Tuesday, the gambling company also revealed a similar accord with Philadelphia-based sports betting startup Sporttrade.