Betfair given time to find New Jersey partner
New Jersey regulator has given Betfair permission to continue operating its egaming site in the state despite land-based partner Trump Plaza closing later this month
The New Jersey Division of Gaming Enforcement (DGE) has given Betfair permission to continue operating its online gaming platform in the state, despite land-based partner Trump Plaza closing its doors for good on 16 September 2014.
On Friday the DGE issued a response to a petition made by Betfair asking to be fully involved in any future discussions regarding its egaming operations in the Garden State, and to continue its online business despite the Plaza’s closure.
In its petition, Betfair said it had “invested substantial resources in New Jersey”, its online products are “consistent with the high standards established in the Casino Control Act”.
Betfair also said it had made “repeated written requests for information” from the Trump Plaza’s senior management team regarding the closure, including a “face-to-face” meeting, but the Plaza had “failed to even respond” to its letters.
In its response the New Jersey regulator said Betfair’s interest was “sufficient to merit participation” but it would be limited to the submission of a brief or other written filing.
The DGE’s response also noted that Betfair “demanded from the Trump the release of certain funds” allegedly owed to the online operator, but said it “was not the proper forum” to discuss contractual disputes and that Betfair should not be allowed to intervene to “gain leverage on the issue”.
The regulator has therefore granted approval for Betfair to continue its online operations in the state until the DGE “directs the surrender” of the Trump Plaza’s interactive gaming licence.
“Director David Rebuck has signed an order approving Betfair’s request to participate in the closing plans for Trump Plaza,” DGE spokeswoman Kerry Langan, said.
“The Division will consider input from all involved parties to ensure a smooth transition as Trump Plaza winds down its operations and as Betfair continues its egaming operations in the state,” she added.
When the Trump Plaza shuts its doors later this month it will become the fourth Atlantic City casino to close this year, with the Atlantic Club Casino, Caesars’ Showboat Casino and the Revel having already fallen by the wayside.
The news comes after Betfair reported its Q1 2015 financial results last week, which saw profits increase 39% after a strong World Cup.