Bwin.party secures land-based partner in Pennsylvania
Chief exec Norbert Teufelberger says online operator plans to be "first to market" in the Keystone State if and when regulation passes
Bwin.party has secured a land-based partner in Pennsylvania as momentum builds behind the state passing egaming legislation this year.
The deal with an as-yet-unannounced partner was revealed by the operator’s CEO Norbert Teufelberger last week, and a company spokesperson confirmed the news to eGaming Review.
“We’ve identified a market access partner and should Pennsylvania open later this year we again have the goal to be first to market there as we did in New Jersey,” Teufelberger said during the operator’s 2014 FY results last week.
Bwin.party already has a multi-state deal with Boyd Gaming, which operates the Borgata in New Jersey, MGM International, and the United Auburn tribe in California.
Two bills seeking to legalise internet gaming in Pennsylvania were introduced earlier this month, with a public hearing scheduled for 16 April.
Both bills require online operators to partner with a bricks-and-mortar casino or racetrack in order to be eligible for an interactive gaming licence in the state.
Bwin.party has led the charge in New Jersey with land-based partner the Borgata, but despite claiming the lion’s share of the market its US business posted a $10.6m loss last year.
Teufelberger said bwin.party would now focus on “streamlining” its New Jersey operations to bring the business to a point where it was breaking even.
A recent study commissioned by the state found that regulated internet gaming – poker and casino – could attract more than $300m a year in Pennsylvania. In comparison, New Jersey gross gaming revenue totalled $123m last year.