20 Jun 2014 07:00
20 June 2014
Sportech PLC ("Sportech") to enter
New Jersey iGaming market with Resorts Casino Hotel
Agreement by JV represents first step towards developing a successful
iGaming business in the US
Sportech is pleased to announce that SNG Interactive ("SNG"), its joint venture with NYX Gaming Group Limited ("NYX"), has entered into an agreement to provide a new online gaming platform to the Atlantic City-based Resorts Casino Hotel ("Resorts"). This follows the November 2013 decision by the State of New Jersey to legalise online gaming. The iconic Resorts was the first casino in Atlantic City when it was converted in 1978 and was also the first casino outside of Nevada in the US.
Sportech and NYX will each invest up to $2million in the joint venture for this project and it is anticipated that the gaming platform will launch by January 2015. Once live, players will be able to play a full range of online casino games provided by SNG, including roulette, blackjack and slots. SNG will also provide turnkey operational support which will include customer support and other services.
This agreement is the first initiative in Sportech's strategic aim to add an iGaming business division to its extensive retail, telephone and online betting activities in the US, and follows the establishment of SNG late last year with the Las Vegas-based NYX.
Resorts is the trading name of DGMB Casino LLC, an organisation that is controlled by the family interests of the New York based property developer, Morris Bailey, with a minority shareholding held by Mohegan Sun, the Connecticut-based casino operator. Mohegan Sun also own a racecourse and casino in Pennsylvania and are an important existing customer of Sportech through both their casino based racebook and racecourse betting activities.
Ian Penrose, Chief Executive of Sportech said:
"We are delighted to have reached this agreement with such a well-known Atlantic City venue. The establishment of online gaming activities in New Jersey represents an important next step in the development of our US business and we are well positioned for future growth across the US as regulation permits. We have worked closely with Resorts and NYX for a number of months now, and look forward to the planned launch."
-Ends-
Contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Brunswick Group LLP 020 7404 5959
Mike Smith, Tom Williams sportech@brunswickgroup.com
About Sportech PLC
Sportech PLC is a sports gaming and entertainment company and one of the world's leading pool betting organisations, focusing on highly regulated markets worldwide. Sportech provides betting technology for football, horseracing and greyhounds, processing over $13 billion in bets annually with a presence in 30 countries. Sportech is headquartered in London, England with operational offices in Liverpool (England), Atlanta, Connecticut, California, New Jersey, the Netherlands, Germany and Ireland. For more information about Sportech PLC, please visit www.sportechplc.com