Carousel Group isn’t just hiring in New Jersey. The sportsbook operator is preparing to enter the NJ betting market.
The specific details pertaining to launch dates and partnerships are still developing. But PlayNJ did learn a few details.
According to a Carousel spokesperson, the company is “close to finalizing a deal” with an Atlantic City casino. The deal may be completed in the next month. An operating license is forecasted for Q1 of 2021.
So, don’t expect Carousel to be up in time for the 2020 NFL regular season. But if Carousel does launch in New Jersey, that would make it 18 NJ sports betting apps total.
Wait, who is Carousel Group?
Carousel Group was established three years ago. Its primary mission is to “build a global iGaming empire in the regulated online gambling space.”
SportsBetting.com is one of its two primary brands. RaceBook.com is the other.
That sets the table for mobile and online sports betting across a wide swath of the US.
Its first entry will be Colorado. The Colorado Gaming Board gave its stamp of approval and Carousel hopes to have a full launch in September.
Daniel Graetzer, THE CEO at Carousel Group, told PlayColorado that the company hopes to be in New Jersey by the end of 2020.
Carousel Group and possible AC casino partners
Now the NJ sportsbook market includes 17 apps, not to mention several land-based books at casinos and racetracks. The nine casinos and three racetracks are each permitted a trio of online skins.
That’s 30-plus total sites permissible in the Garden State. (Keep in mind, Freehold Raceway currently does not offer sports wagering.)
But if we are specifically talking casinos, the potential partnerships are limited. Take a look:
|Resorts Digital||Golden Nugget||Hard Rock||Ocean Casino||Caesars||Tropicana||Borgata|
|DraftKings Sportsbook||Golden Nugget Sportsbook||Hard Rock Sportsbook||William Hill NJ*||888 Sports NJ||William Hill*||Borgata Sportsbook|
|Fox Bet NJ||BetAmerica NJ||Unibet NJ||Caesars Sportsbook||BetMGM Sports|
*William Hill NJ shares licensing between three partners: Ocean Casino, Tropicana and Monmouth Park.
Resorts Digital, which includes two of the top sites in the state (DraftKings and Fox Bet), does not have any availability. Neither does Hard Rock Atlantic City.
And it would seem unlikely that Caesars, Harrah’s or Tropicana will expand their respective sports betting operations while the Eldorado-Caesars merger is reaching the finish line.
On the other hand, once the sale of Bally’s to Twin River Holdings is finalized, the door is wide open. Bally’s would have three online skins of its own.
Golden Nugget AC is another option. Besides its self-branded online sportsbook, BetAmerica operates under the license. So, there is room for one more. The same goes for Borgata.
Ocean Casino has an online partnership with William Hill. Adding a self-branded sports wagering product to the existing online casino platform could be in the works.
Last year, Parx launched an online casino product via the Ocean license. The sports product remains up in the air. So we will leave a question mark here.
In other words, Carousel Group has options if they are serious about an NJ launch.
Carousel Group needs DGE approval
The news about Carousel comes at a time when pro sports leagues are working on restart plans.
But even with sports on hiatus, the idea of entering the NJ sports betting market is a no-brainer.
In 2020 alone, Garden State bettors wagered more than $4.5 billion, more than 80% of which was generated via mobile apps.
But the first step for any would-be sportsbook operator is working out the details of a land-based partnership. The other is applying for a license with the New Jersey Division of Gaming Enforcement.
Then comes the approval process.
If everything goes well with these steps, Carousel will receive its entry ticket.