Score Digital Sports Ventures Inc., a subsidiary of Score Media and Gaming Inc., has announced that it has entered into an agreement with Twin River Worldwide Holdings to operate a New Jersey Online Casino. It is expected that the casino will be launched in the latter half of 2021.
However, before that can happen, a host of licenses and regulatory compliance certificates have to be secured. The New Jersey Division of Gaming Enforcement has to give its approval. The clearance of the pending takeover of Bally’s Atlantic City Hotel & Casino in Atlantic City, New Jersey, by Twin River is also required.
CEO of theScore, John Levy, who started the company, is pleased with the developments. He feels that by having the online casino on board, the group’s existing mobile sports betting platform adds value to their existing portfolio. By this launch of the online casino, he expects that Score Digital can provide its patrons with a rich and “holistic and tightly integrated” enhanced gaming experience.
The agreement is a win-win situation for both Twin River and the proposed online casino operations of theScore. Twin River will receive a part of the revenue from the casino that is restricted to a certain amount, an upfront fee, as well as renewal fees whenever applicable. The rest of the revenue will go to the coffers of theScore.
Initially, the contract will be for ten years and subject to the exercise of an option by theScore, it may be extended for another five years. For the next five years, both parties have to give mutual consent for the renewal of the contract. It is here that Twin River will have an opportunity to decide whether to continue or not.