GVC Holdings, the gaming company that took control of bwin.party back in February, has been given the OK to continue operating in the Garden State by the New Jersey Division of Gaming Enforcement (NJDGE).
Prior to the GVC takeover, bwin.party powered two platforms in New Jersey – Party Poker NJ and The Borgata Online, but since the new owner took control it’s been the sites have been monitored by the NJDGE.
Although the local gaming authority didn’t directly prevent GVC’s subsidiaries from operating in the state, it did want to assess the situation while GVC applied for a license.
However, following a preliminary investigation the NJDGE is satisfied that GVC and its executives possess the necessary “good character” to operate within New Jersey.
With the company given the seal of approval to receive a transactional waiver from the NJDGE, bwin.party is free to continue serving players in the state but not quite in the same way as before.
Following GVC’s takeover of bwin.party, MGM Resorts took full control the Borgata’s land-based casino in Atlantic City.
After purchasing Boyd Gaming’s 50 percent stake in the venue, MGM Resorts became the sole owner of the casino and this is likely to mean a shift in control when it comes to online input.
Should the MGM Resorts try to leverage the Borgata’s online asset away from bwin.party and, therefore, GVC it could be a blow to the latter.
As it stands the Borgata is the top performing online casino in New Jersey and, while a separation looks unlikely at this point, there’s a chance GVC could be without a prize asset going forward.
Regardless of the Borgata situation, GVC is continuing to push its way into regulated markets. At present, it holds licenses in 14 jurisdictions and it plans to continue expanding into more markets as the “regulatory framework evolves,” said the company in a press release.
“I am delighted the DGE has confirmed that GVC meets its stringent regulatory requirements and that bwin.party can continue to operate in New Jersey under its current licenses.
This is an important development for GVC and one that places the enlarged Group in a strong position should further regulated opportunities in the US arise,” explained GVC CEO, Kenneth Alexander.
Although states like New York and California are on the cusp of implementing iGaming regulation, New Jersey is still the place to be for online operators and GVC will be hoping to build from this recent seal of approval and bolster its position in the state.