Casino to go live next year
theScore Bet is planning to launch an online casino offering in New Jersey following the signing of a multi-year deal with casino company Twin River Worldwide Holdings. This marks theScore Bet’s first foray into the online casino space.
theScore Bet’s first foray into the online casino space
Score Media and Gaming Inc. announced the partnership involving its theScore Bet subsidiary on August 27. An official press release indicates the latter half of 2021 as the timeline for rolling out theScore Bet online casino in the state.
Licensing and regulatory approval from the New Jersey Division of Gaming Enforcement will be necessary before launch. Twin River’s pending purchase of Bally’s Atlantic City Hotel and Casino also requires completion before the casino product can go live.
Twin River getting a cut
As part of this arrangement, Twin River will be getting a cut of theScore Bet’s online casino revenue in New Jersey. There will be a guarantee of annual minimum payments, as well as an upfront fee and potential renewal fees.
additional five-year extension to the deal if both parties agree
The initial term of the partnership is ten years, with the online casino operator having the option to extend it by five years. There can be an additional five-year extension to the deal if both parties agree to it.
theScore CEO and founder John Levy said that the addition of an online casino will extend the operator’s reach and broaden its product portfolio. “This is yet another step towards providing theScore’s media and betting patrons with a completely holistic and tightly integrated media and gaming experience,” he added.
Twin River Worldwide Holdings CEO and president George Papanier also acknowledged the new partnership, saying “we look forward to working with them and engaging our guests as they leverage this new, exciting platform.”
theScore Bet already has an online sportsbook live in New Jersey since September 2019 through its deal with the Monmouth Park Racetrack operator. It also has an online sports betting license in Colorado, where it is yet to launch a sportsbook offering.
Twin River has already partnered with the Esports Entertainment Group to launch its proprietary esports betting platform in New Jersey. It also struck a deal with Sporttrade, a startup that aims to launch the first regulated sports betting exchange in the US market. Australian operator PointsBet has also teamed up with Twin River to launch its online casino product in the Garden State.