theScore Bet has announced a multi-year partnership with Twin River Online Holdings, pending the new owner of Bally’s Atlantic City, to operate an online casino in the Garden State.
theScore Bet has approval from the New Jersey Division of Gaming Enforcement. Although theScore is locking into New Jersey and a verbal agreement is in place, Twin River needs to get approval and finish the deal with Caesars to purchase Bally’s before they move forward.
With the delays in place, the goals for theScore Bet is to launch in the online casino sometime in 2021. Licensing is becoming a big issue in this deal.
“The addition of an online casino offering to our mobile sports betting platform broadens our reach and deepens our strong portfolio of assets,” said John Levy, Founder, and CEO of theScore.
The Partnership
Under the agreement, Twin River will get a percentage of the profits made by theScore online casino. Twin River will also guarantee as a minimum percentage along with the deal being 10 years. There is an option clause for theScore Bet after five years, however. The agreement must be mutual for the second five-year option to go through.
theScore originally entered the Garden State this time last year and was the first digital media company to get into the sports betting industry. Now, they are trying to expand into the online casino market.
However, they do need a casino partner to do so, and the process is taking longer than they would like.
I know, politics, man.
That is not stopping theScore Bet from doing what they need to do to enter the market. They already have approval from the New Jersey Division of Gaming Enforcement. theScore Bet needs a partner to move forward.
Even if, for some reason, the Twin River and Bally’s deal falls through, theScore will still be able to operate in New Jersey, they will need to find another partner. This could continue to delay plans as theScore Bet is aiming for a 2021 launch.
Sports betting companies are already trying to get into the online casino market, and New Jersey feels like a breeding ground to do so. With the pandemic going on, and everyone is forced to stay home, the Garden State sees record numbers in the online casino market.
Maybe this is happening because no one wants to get sick while trying to roll snake eyes at the craps table.
Sugarhouse Sportsbook has a partnership with Monmouth Park with an online casino. Betfair, FanDuel, Draftkings, and PointsBet are all getting into the online casino game as well. The sports betting operators already have partnerships with casinos and racetracks to launch.
theScore Bet only makes sense to hop into the online casino market seeing how other sports betting operators are succeeding.
There is only a matter of time before almost every sportsbook is dabbling into the sports betting industry and the online casino industry. Might as well try and keep everyone on your app to gamble money away while you’re at it.
Sportsbooks are partnering their online casino in the same to make this possible. So maybe, after you lose out on your 10-team parlay, you can switch over the virtual play slots and possibly win your money back. Not a bad idea.
