New Jersey has become one of the pioneers in legalized sports betting in the United States, and the state is again helping to expand the industry. Last week, one of the world’s most known sports gambling brands announced it will make its way into the United States by acquiring some New Jersey real estate.
Bet365, an online gambling company based in the United Kingdom, signed a lease on some land in New Jersey, marking the brand’s first concrete move into the American market. Bet365 had already partnered with a local gaming operator last summer.
In 2018, Bet365 partnered with Hard Rock Hotel and Casino Atlantic City, which will be operating its sportsbook. According to New Jersey’s betting regulations, two companies – Bet365 and Hard Rock Hotel and Casino Atlantic City – had to sign a letter of intent upon coming to terms. That letter was approved one week later. Bet365 could make its mark on the United States this summer. The licensing application process still must be completed.
The new office space for Bet365 is in Marlton, N.J., about 50 miles from Atlantic City. The long-term lease is for a 19,000-square-foot workspace at Two Greentree Center.
New Jersey legalized sports gambling in 2018 and has remained at the forefront of the industry’s movement throughout the country. That makes the state a logical place for Bet365’s interest in beginning its stay stateside – that and New Jersey’s claim to gambling fame, Atlantic City. Less than a year after legalizing sports betting, New Jersey already had a month (January 2019) where it boasted higher revenue from sports betting than Nevada.
Bet365 is also keeping an eye on New York, positioning itself to move in when the nation’s fourth-most populous state makes sports betting legal. The company, via its affiliate, Empire Resoirts Inc., has an alliance with Resorts World Catskills to offer sports betting and online gaming, depending on the passage of applicable laws in New York State.
In any event, it won’t take very long for more internationally known gaming entities – like William Hill, which is already increasing its U.S. footprint -- to make their way into the United States, especially if more states legalize sports betting.