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Betfair Gets Six Month Extension in NJ

10 October 2014 by Devon Chappell

New Jersey online gambling regulators have share some developments that will keep Betfair in the fold for at least another six months. Together, Betfair and Caesars Entertainment have reached a deal that will keep the online casino software company running in the Garden State for another half year or more. The deal has already been accepted by the New Jersey Department of Gaming Enforcement.

Just under a month ago, when Trump Plaza – Betfair’s brick ’n mortar partner for online casino wagering, closed up in Atlantic City – it was largely thought that Betfair would set up shop through another Trump property in Atlantic City – the Trump Taj Mahal. After all, both properties are owned by the Trump Entertainment Resorts. Betfair even had backend facilities for online wagering set up at the Taj Mahal.

Not so fast was the case, as Trump Entertainment resorts itself went under last month. Alas, Betfair has had its eye on the ball ever since learning of potential bankruptcies with the Trump casino brand. Within a few days of that news, Betfair was dealing with Caesars.

Because licensed software providers are required to work with one of Atlantic City’s land based casinos to legally operate online sites taking real money wagers in New Jersey and because so many casino properties in Atlantic City are already online with software brands, the need to find a new home could have been a bit dicey for Betfair.

The Department of Gaming Enforcement permitted Betfair to keep a license to operate for a short period of time while seeking out a new partnership. The new deal with Caesars will give Betfair some time to work out a longterm plan for its future in the largest online casino market the US currently has to offer.

The approved extension allows Betfair to run online from Bally’s Atlantic City, which is a well known Caesars sub-brand.

Betfair is based in the UK and is a long standing, yet somewhat beleaguered brand (as of late). The UK holds one of the most highly regulated and largest online gambling markets in the world. Interestingly enough, Betfair has had its share of battles regarding revenue generation in the steady but not entirely growing New Jersey market. A partnership with an aging Trump casino brand was probably not the best situation for the brand.

This could all change if Caesars takes the brand to its consumers with a fresh, new marketing strategy. After all, Caesars online casinos are the most successful thus far in New Jersey. BetfairCasino.com brought in a mere 7% of the overall New Jersey online gambling revenue just two months ago in August, which lands at a few thousand dollars over $700,000. It’s safe to say that the online gambling industry in NJ did not save the Trump properties in its last ditch chance to stay afloat.

Betfair’s Ultimate Gaming withdrew from New Jersey previously after the fledgling Trump brand had little ability to promote it in the manner that other operators were marketing their casinos online.

Another thing to consider is Betfair’s online poker site, which is another struggling site that even uses competing software – Ongame – with Caesars own poker room. Caesars powers its more successful WSOP.com poker room using 888 software.

Will Caesars move forward with two rooms using two different software platforms? That’s anyone’s guess, as the industry waits to see how the Caesars brand actually serves it to the market, perhaps in another, more successful way.

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