Approval granted
Internet gaming operator Playtech has been granted approval to launch its online casino products in New Jersey. The New Jersey Division of Gaming Enforcement (NJDGE) has confirmed that the gaming giant has fulfilled its regulatory requirements, granting it a transactional waiver.
Playtech, a FTSE-listed company, will soon be able to go live in the Garden State via the bet365 Group and Hard Rock Atlantic City.
a major milestone for Playtech”
The company’s stock was up sharply on the news Monday, closing at 284.30 pence ($3.54) per share, a 7.40% jump.
United States a “strategic market”
Confirming the approval, Playtech CEO Mor Weizer was keen to highlight how the US was a highly strategic market for the company. He confirmed that he has plans to introduce its full product offering in the future, possibly combining with other operators in New Jersey, thanks to “significant demand.”
“This is a major milestone for Playtech,” Weizer said.
Describing the regulatory requirements as “stringent”, Weizer went on to say that the operator was delighted to be launching in New Jersey with its long-standing strategic partner, bet365.
Hopes to diversify product range
While Playtech plans on launching its online casino product first in New Jersey, the operator has said that it eventually wants to diversify its product range to include other income streams such as sports and live casino.
Weizer commented that as other states decide to regulate, Playtech hoped to expand, subject to individual state licensing procedures. He added:
This is the first step for Playtech in the US and we are very excited about the long-term opportunity.”