TheScore Bet is doubling down on its New Jersey investment.
The Toronto-based company announced earlier today that it has secured a market access deal to operate an NJ online casino. TheScore has a multiyear agreement with Twin River Worldwide Holdings, the pending new owner of Bally’s Atlantic City.
According to the press release, the anticipated launch timeline is the second half of 2021.
This is based on theScore securing licensing and regulatory approvals from the New Jersey Division of Gaming Enforcement (DGE). Twin River needs to do the same, as well as complete the purchase of Bally’s from Caesars Entertainment.
More about TheScore Bet online casino
And in the process, theScore became the first digital sports media company to enter the legal sports wagering sphere.
Operating an online casino, however, requires a land-based partnership with an Atlantic City casino. This is where Bally’s comes into play.
As the new property owner, Twin River can build an online portfolio that includes up to five online casino apps and three sports betting skins. TheScore will fill one of the casino slots.
Here is what John Levy, founder and CEO of theScore, has to say about the casino product:
“The addition of an online casino offering to our award-winning and truly differentiated mobile sports betting platform broadens our reach and deepens our strong portfolio of assets. This is yet another step towards providing theScore’s media and betting patrons with a completely holistic and tightly integrated media and gaming experience.”
And it’s not unusual for sports betting and casino platforms to operate under different licenses. For instance, SugarHouse Sportsbook is connected with Monmouth Park, while the casino is part of the Golden Nugget AC portfolio.
Why an online casino for theScore makes sense
And it’s not surprising that an online sportsbook like theScore Bet wants to also offer its customers an online casino. The reason is simple.
NJ online casinos and sportsbooks work in tandem with each other. And the cross-sell is significant.
DraftKings Sportsbook launched its casino app shortly after debuting its first-to-market sports app in NJ. FanDuel Sportsbook joined up with its Flutter Entertainment partner Betfair for a dual casino-sportsbook app and shared wallet.
So theScore Bet online casino just makes sense. But you won’t see it in action until next year.
Twin River has big online gaming plans for Bally’s AC
Currently, Bally’s AC is a silent player when it comes to the NJ online casino industry. The current slate of online casino platforms falls under the Caesars Interactive umbrella.
Twin River is taking a completely different approach by going all-in with the New Jersey market. Company executives shared details of those plans with Play NJ recently.
And in terms of online gaming, Twin River is announcing agreements at a rapid rate. In fact, theScore is just the latest company to join the lineup.
“We are excited to partner with theScore and to provide our Atlantic City guests with a highly personalized iGaming experience,” said George Papanier, president and CEO of Twin River Worldwide Holdings. “We look forward to working with them and engaging our guests as they leverage this new, exciting platform.”
Under the agreement, Twin River will receive a percentage of revenue derived from theScore Bet online casino’s operations in New Jersey, subject to certain annual minimum guaranteed amounts, an upfront fee and renewal fees if applicable.
The Bally’s owner-to-be has been extremely busy putting similar deals together. Last week, the company announced an NJ sports betting partnership with Esports Entertainment Group.
And on Tuesday, news of a separate deal with sports betting startup Sporttrade became public.
Clearly, Twin River is looking to score big with customers once its Bally’s AC takeover is complete.
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