SPORTECH U.S. SUBSIDIARY CRACKS A NEW JERSEY LICENCE
21st April, 2015 at 07:31:46
Sportech Racing, LLC awarded a Casino Service Industry Enterprise licence.
Sportech plc has announced that the New Jersey Division of Gaming Enforcement has awarded its subsidiary, Sportech Racing, LLC a Casino Service Industry Enterprise licence, under section 92(a) of the New Jersey Casino Control Act.
It is understood to be among the first, if not the first, full gaming-related licence to be issued in New Jersey to a European-owned company, and follows a thorough investigation by the DGE of the Sportech group, its employees and shareholders over an extended period.
The licence supersedes the Transactional Waivers on which Sportech Racing has been operating in New Jersey for the last four and a half years.
Sportech Racing processes all the wagering for the racing industry at New Jersey racecourses, off track betting facilities, certain casinos in Atlantic City, and through the state's only sanctioned "advance deposit wagering" (online betting) service.
In addition, Sportech's data and operations centre, which is based in Mt. Laurel, New Jersey, processes a total of $11 billion of bets a year for customers in the US, Canada, the Caribbean and South America. This facility also acts to back up the group's Berlin data centre, which processes bets for European customers. In aggregate, the two facilities process $13 billion of bets each year globally.
Sportech is also represented in New Jersey by Sportech-NYX Gaming, LLC, the joint-venture established with NYX Gaming Group Limited. SNG provides the online gaming platform and associated services operated by Resorts Casino Hotel in Atlantic City.
Ian Penrose, Sportech chief executive, said that a New Jersey online licence is widely viewed as the "gold standard" and is an endorsement of Sportech's standards of operations and the qualifications of its directors and senior employees.
Related News Tags: Atlantic City, Europe, New Jersey