For some time, the tie between Parx Casino and sports betting provider Kambi Group has been evident.
When the casino, owned by Greenwood Gaming and Entertainment, applied for a sports wagering certificate in August, its partnership with Kambi was revealed.
On Tuesday, the two parties made the deal official.
But why would we be interested in a partnership that became so apparent three months ago, about a Pennsylvania casino, no less?
Because of this little nugget so inconspicuously dropped in the press release:
“The contract … includes a provision for Kambi to support Greenwood Gaming with a potential sports betting operation in the neighbouring state of New Jersey.”
A second PA-based sportsbook could join the NJ sports betting scene in the near future, courtesy of Kambi.
Nearby neighbor peeking in
The casino sits along the Delaware River near New Jersey. So it has a good view of all the goings on in the Garden State.
But more importantly, Parx nears becoming one of the first Pennsylvania properties to offer legalized sports betting.
The Pennsylvania Gaming Control Board needs to approve Kambi as an operator, which should come at the end of November.
The retail sportsbook aims for an end-of-year launch, and a mobile product will follow.
Per the release, the timing of a Parx sportsbook “is not expected to have a major effect on Kambi’s 2018 revenues (but) is anticipated to have a more material impact in future years.”
Kambi continues expanding
Kambi already powers three mobile sportsbooks in New Jersey, including two of the most prominent.
The list of online products available grew to eight products in September.
That month, NJ online sports betting took in nearly $105 million and handled more than in $12.5 million in revenue. Of revenue total, Kambi clients combined for more than $9.2 million.
Should Parx enter the NJ online sports betting market, Kambi could continue establishing a stranglehold on the industry.
Parx to join SugarHouse in NJ?
SugarHouse online sportsbook became the third mobile option available in the Garden State, rolling out its integrated online casino/mobile sports betting platform in August.
Based out of Philadelphia, SugarHouse has thrived in the NJ online gambling world. It also plans to bring a retail sportsbook to its PA property shortly.
With potentially a second PA casino activating a mobile presence in New Jersey, it seems executives are ready to capitalize on either side of the Delaware River.
Could New Jersey return the favor?