SBC News Voice of the Sports Betting Industry
Updating the market, FTSE-listed online gambling operator GVC Holdings has announced that it has received a licence approval by the New Jersey Division of Gaming Enforcement (DGE) to operate its online gambling services within the state.
The approval will see GVC Holdings maintain the New Jersey online poker and casino services of subsidiary PartyGaming which has operated in the regulated market since 2013.
Following a DGE investigation, the regulator has approved that new PartyGaming owner GVC will not need to be granted a transactional waiver in order to continue the firms online gambling services for New Jersey.
DGE examined GVC’s business operations and concluding “GVC and its individual qualifiers possess the requisite good character, honesty, and integrity should it file for a transactional waiver.” DGE determined that the New Jersey licenses held by bwin.party shall remain valid under GVC’s ownership and a transactional waiver is not needed in connection with existing New Jersey contracts. Additionally, DGE ordered the termination of the Monitoring Agreement under which bwin.party had been operating since the acquisition by GVC.
Kenneth Alexander, CEO commented on the New Jersey approval
“I am delighted the DGE has confirmed that GVC meets its stringent regulatory requirements and that bwin.party can continue to operate in New Jersey under its current licences. This is an important development for GVC and one that places the enlarged Group in a strong position should further regulated opportunities in the US arise. GVC has licences in over 14 countries and continues to seek further licences in markets as the regulatory framework evolves.”
