Paddy Power Betfair in new partnerships to access New York and New Jersey online markets
Paddy Power Betfair US yesterday announced that it has reached long-term agreements for retail and online/mobile sports betting at a racetrack in New Jersey and at a New York casino.
Under the agreements, Betfair US - a subsidiary of Paddy Power Betfair - will provide a full suite of sports betting products to customers in New Jersey and New York pending legislative and regulatory authorisation.
The move comes in the wake of a US Supreme Court ruling which last month struck down a federal law that has severely restricting sports betting there since 1992, and follows a recent announcement from the group that it is combining its US operations with leading daily fantasy sports company FanDuel.
Jeff Gural, chairman of New Meadowlands Racetrack and Tioga Downs, referred to the agreement as a "great opportunity" for Meadowlands and Tioga Downs.
"We are eager to get started with our partners, with whom we have had a long relationship for racing with TVG, on this exciting venture," Mr Gural said.
While Kip Levin, CEO of Betfair US, said that the group "could not be more exited" to partner with Mr Gural and his partners for sports betting in New Jersey and New York.
"Meadowlands Racetrack has the potential to be among the best, if not the best, sports betting venues in the US. Combining these premier facilities with the global sports betting prowess of Paddy Power Betfair is a great match and will enable us to bring an unparalleled sports betting experience to customers in the northeast."