New casinos in NY will create new revenue in evolving market

23 Dec 2015 | Author: | No comments yet »

Net Entertainment Makes Further Tracks in US Online Gambling Market.

On Monday, state regulators are expected to license three new casinos in upstate New York, a region that already has a dozen horse-track “racinos” and Indian casinos. (MENAFN Press) Online PR News – 19-December-2015 – Kuala Lumpur Malaysia – Today more and more people want to enjoy gambling but they dont have enough time to drive to traditional gaming facilities.Net Entertainment, the Swedish based online casino software provider, has expanded further in the US online casino market through a deal signed with New Jersey’s Resorts Casino.Swedish developer of online casino content NetEnt AB had its busiest year, as it signed a number of strategic partnerships and launched new and exciting gaming titles for its B2B customers around the globe and their gambling customers, respectively.

The move fits a longstanding pattern of New York officials finding new ways to cash in on gambling — like approving video lottery machines at ailing horse tracks or expanding into multistate lotteries as Lotto sales dropped. “Limited growth, that’s the way it’s been nationally for the last five years and New York doesn’t seem to be that much different than other states,” said Bennett Liebman, a gambling policy veteran who is now a government lawyer-in-residence at Albany Law School. “There is no reason to think it’s going to be any different, even with additional casinos.” New York gets a major chunk of gambling revenue from lottery games. While the contract was signed in October between the two, this week NetEnt announced that its desktop and mobile games can now be found on the casino’s remote gambling platform, with includes Resorts Casino and Mohegan Sun brands.

Money earmarked for education aid from traditional lottery drawings, instant games and video lottery terminals at horse tracks around the state topped $3 billion last year. Online casinos such as Jackpot City Casino, bet365 Casino and Winner Casino, eliminate the inconvenience of getting into your car and driving to the nearest casino, and replace it with fast, fun thrills, available at your fingertips. Net Entertainment received a transactional waiver from the state’s gambling authority, the New Jersey Division of Gaming Enforcement, to launch games with Resorts Casino.

But online gambling is not available to everyone; while many countries have legalized it, there are still other countries that have banned it completely or that have gray areas of legislation. With more than 5,000 electronic slots and table games, Resorts World is the closest thing to a Las Vegas-style casino in the nation’s largest city, and it accounts for more than $4 out of every $10 brought in by racinos statewide. Mark Giannantonio, the president and chief executive of Resorts Casino Hotel, added: “It has been a really exciting few weeks for Resorts Digital Gaming’s business and the addition of these games will only strengthen our product offering further.” This is not the first licensing deal signed between Net Entertainment and a US brand. The Oneidas agreed to begin paying a share of their casino slots revenue, while the Senecas and the Mohawks resumed making payments they had halted amid complaints of unfair competition. The company signed 30 different partnership agreements and its games went live in more than 20 online casinos operated by partners of the Swedish supplier.

Now the state is on the brink of another gambling revenue bump as regulators consider licenses for four casinos in the Catskills, the Southern Tier, Schenectady and the Finger Lakes. The two brands are best known for their poker offering but launched new casino options in a bid to attract the attention of a completely different group of gambling customers. Moody’s Investors Service noted in a report last month that New York’s casino expansion is part of $5 billion in growth expected in the Northeast over the next few years. Beyond casinos, one potential stream of lucrative gambling revenue could come from daily fantasy sports games like those run by FanDuel and DraftKings. In March, the Swedish gaming developer announced three strategic partnerships that helped it expand its presence in key European online gambling markets.

But state Attorney General Eric Schneiderman claims their businesses are illegal gambling operations and a judge has temporarily banned them from taking bets from New Yorkers. Pretlow said taxing daily fantasy games would keep them on equal footing with other forms of legal gambling and would help pay for the regulators to make sure the games are being run fairly. NetEnt singed a cross-license agreement with IGT, which has been holding the largest portfolio of slots feature patents across the United States and the North American gambling market as a whole. Under the terms of the agreement, the gaming developer was enabled to offer its titles in North America, with those including any of IGT’s patented slots features.

Then, NetEnt inked a similar agreement with Caesars Interactive Entertainment, the New Jersey-based online casino arm of gambling giant Caesars Entertainment Corp. In September, NetEnt received the first such transactional waiver and a selection of its most popular titles went live with the Borgata and brands.

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