Twin River Worldwide Holdings has announced its latest New Jersey focused partnership after aligning with Philadelphia-based sports betting startup Sporttrade.
The collaboration will lead to the launch of Sporttrade’s proprietary sports betting exchange product in the Garden State pending regulatory approvals which will grant Twin River the right to three online sports betting skins in the region.
Commencement is pending on the green-light being awarded to Twin River to complete its acquisition of Bally’s Atlantic City Hotel and Casino in Atlantic City.
Twin River detailed it’s $25m Bally’s acquisition in April, with the transaction seeing Caesars Entertainment receive $6m, and Vici Properties gain the remaining $19m, in a deal which also saw the operator acquire Eldorado Shreveport Resort and Casino in Louisiana and the MontBleu Resort Casino and Spa in Lake Tahoe, Nevada for $155m from Eldorado Resorts.
“We are thrilled to partner with Twin River as we prepare to introduce a truly differentiated product to the New Jersey market,” commented Alexander Kane, founder and CEO of Sporttrade.
“By applying capital markets technology and market structure to the US sports betting ecosystem, we are creating something revolutionary. Sporttrade will establish a first-of-its-kind sports betting venue that will be fair, liquid, and transparent, and we look forward to offering customers innovative betting products at significantly lower costs than traditional sportsbooks.”
Earlier this month Esports Entertainment Group outlined plans to launch online sports betting within New Jersey after entering a multi-year partnership with the casino operator.
This followed PointsBet detailing plans to launch its online casino product in the region contingent on completion of the aforementioned acquisition.
“Sporttrade will be a great addition to our list of unique partnerships we are building in the Atlantic City market” George Papanier, president and CEO of Twin River, said of the firm’s latest partnership.
“They will bring a new, exciting online product offering for our guests and we look forward to having them join our Atlantic City team.”