CG Technology lands sports betting deal with NJ's Meadowlands

8 February 2019

US bookmaker CG Technology (CGT) is to begin offering online and mobile sports betting services in New Jersey after striking up a partnership with Meadowlands Racetrack.

Through its CG Technology NJ affiliate, CGT will launch its services in the state in the autumn, to coincide with the start of the 2019 NFL American football season.

The new deal remains subject to approval by the New Jersey Division of Gaming Enforcement, but should it gain clearance as expected, Nevada-based CGT will become the third and final online licensee partner of Meadowlands.

The East Rutherford racing facility already has online sports betting agreements in place with Australian operator PointsBet and Paddy Power Betfair-owned FanDuel.

"We are delighted to enter the New Jersey market and bring forth our decade-plus of experience catering to customers in the country's biggest gambling market," CG Technology CEO Parikshat Khanna said.

“As an early mover in the Nevada sports betting business, we always envisioned national expansion that would give American consumers more product options.”

Jeff Gural, chairman and CEO of Meadowlands Racetrack, added: “We are confident CGT, with its years of experience, will bring some new and inventive offerings that will appeal to the New Jersey online and mobile sports wagering market.”

FanDuel, in partnership with Meadowlands, has been one of the most consistent performers in New Jersey since the state launched its regulated sports betting market in June of last year.

In December, FanDuel was the biggest winner in New Jersey, reporting $9.1m (£7m/€8m) in revenue - the largest monthly amount since regulation came into effect. FanDuel also leapfrogged rival DraftKings (revenue of $6.7m) in the process.

PointsBet rolled out its services in the state last month, vowing to bring a “high-risk, high-reward” experience to US bettors through its signature PointsBetting product.