CHURCHILL DOWNS INKS DEALS AIMED AT LAUNCHING NJ ONLINE CASINO, SPORTS BETTING
GOLDEN NUGGET PROVIDING LICENSE, SBTECH THE PLATFORM
Churchill’s entrance into the NJ market will be facilitated by two separate partnerships.
The first is with the Golden Nugget in Atlantic City. Golden Nugget will be providing Churchill with access to an operating license. In New Jersey, licenses to operate online gambling sites are limited to the state’s land-based casinos, who are then free to sub-lease those licenses to partners.
While not part of the announcement, it’s reasonable to speculate that this may be the start of a broader partnership between Churchill and the Golden Nugget, one that might allow each to access online gambling markets that would otherwise be inaccessible due to a lack of a physical presence in a given state.
The second is with SBTech. Per the announcement from Churchill, SBTech will be providing Churchill “with an iGaming platform, consisting of the consumer website, mobile apps, and back-office systems to manage iGaming and sports wagering.”
The announcement marks the first foray by Churchill into regulated online casino gaming. The company has extensive experience with internet gambling via TwinSpires.com, Churchill’s home for online horse betting.
SBTECH PARTNERSHIP EXTENDS BEYOND NJ
In addition to the NJ market, Churchill and SBTech are set to collaborate in Mississippi and Pennsylvania.
The Mississippi partnership will focus on sports betting. Officials there have indicated that they intend to pursue an aggressive timeline for launching regulated sports betting in the wake of the Supreme Court’s ruling that the federal single-game wagering ban is unconstitutional. Sports wagers could be taken there as soon as this summer. Churchill owns two brick-and-mortar casinos in the state — Riverwalk Casino Hotel and Harlow’s Casino Resort & Spa.
The Pennsylvania partnership will cover both sports betting and online casino. Pennsylvania is expected to launch regulated online gambling in late 2018 or 2019. Churchill previously announced the acquisition of Presque Isle Downs & Casino in Erie.
The timeline for the launch of sports betting in PA is less defined. Many expect the state to reopen the sports betting conversation this year to revisit tax and license fee levels that have drawn widespread criticism from the industry.
https://www.playnj.com/news/churchill-downs-sets-sights-on-new-jersey/19818/