(Alliance News) - Playtech PLC on Monday said it has been granted regulatory approval by the New Jersey Division of Gaming Enforcement to provide its casino product to the New Jersey market.
The FTSE 250-listed betting and gaming operator said it expects to launch soon in New Jersey under its transactional waiver with online gambling company bet365 Group Ltd and Hard Rock Atlantic City.
Playtech also expects to launch its products with further operators in New Jersey in the near future and has started the licensing process in other US jurisdictions.
"This is a major milestone for Playtech. We are delighted to have met the stringent regulatory requirements of the DGE and to be launching in New Jersey with our long-standing strategic partner bet365. The US is a highly strategic market for Playtech and we see significant demand for the full breadth of our product offering," said Chief Executive Mor Weizer.
"We are initially launching our online casino product in New Jersey and over time will increase our products on offer to include sports, platform, and live casino and we will continue to expand into further states as they regulate. This is the first step for Playtech in the US and we are very excited about the long-term opportunity," he added.
Playtech stock was trading 5.3% higher at 278.80 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Playtech (PTEC)