SBTech snaps up Resorts deal
SBTech is in advanced talks with “numerous” US land-based operators after Resorts Casino Hotel was unveiled this (Monday) morning as the sports betting provider’s second major partner sign-up in the country since the federal ban on sports betting was overturned.
SBTech chief commercial officer Andrew Cochrane told iGamingBusiness.com that the agreement with Resorts – enabling the provision of its sportsbook solution across on-property, online and mobile channels in New Jersey – had been struck after fruitful talks were initiated nearly a year ago.
Having laid the foundations for the long-awaited legislative change imposed by the US Supreme Court in May, SBTech is now confident that more deals are imminent after Resorts followed Churchill Downs in sealing a partnership.
“This hasn’t happened overnight and this [the US] has been a focus for us for nearly 12 months, although perhaps things have accelerated since the change in legislation,” Cochrane said.
“Last year we hired a number of people who could help us to enter the US and last autumn we began discussions with back-to-back meetings with the major casino players in New Jersey and further afield.
“We have expectations to announce numerous additional partnerships in the US with land-based operators and are currently in contractual discussions with a number of them.”
As is the case with the Churchill Downs partnership, the deal with Resorts will leverage the SBTech platform for a full omni-channel offering, with a focus on the on-property solution.
Resorts will also completely outsource its risk management and trading to SBTech, which will implement a bespoke risk management strategy.
As the deal is subject to regulatory approvals, a launch date has not been confirmed. However, for any sportsbook provider, the start of the NFL American football season on September 7 – ahead of the NHL ice hockey and NBA basketball campaigns in October – would be an obvious target.
The two parties said that SBTech’s “proven track record of rapid deployment in newly regulated markets” was one of the factors that led to the provider being selected “among many contenders”, as well as SBTech’s mobile-first product features, including its patent-pending Pulse Bet and YourBet solutions.
SBTech chief executive Richard Carter said that the deal “represents the next stage of our long-planned penetration of the US market”.
Resorts president and chief executive Mark Giannantonio added: “After conducting a comprehensive selection process to find the right sports betting supplier, we feel that SBTech offers the right combination of deep regulatory expertise in the world’s most dynamic and demanding markets and the scalability to support our ambitious multi-vertical plans.”
Resorts has also been active since the change in federal law.
Last month, Resorts linked up with DraftKings, which selected the Atlantic City location as its New Jersey licensing partner, satisfying a regulatory requirement for the daily fantasy sports operator to offer an online sports betting product in the state.