FanDuel Group to launch online sports betting and casino

ATLANTIC CITY, N.J. -- FanDuel Group says it will launch online sports betting and an internet casino in New Jersey, hopefully in time for the start of football season.

FanDuel, which is mostly owned by Ireland-based Paddy Power Betfair, will provide online sports betting with the license of the Meadowlands Racetrack, and internet gambling through its licensing affiliation with Atlantic City's Golden Nugget casino.

GAN and IGT will provide the technology platform for both.

"Online sports betting 'go-live' preparations for FanDuel are well advanced and we remain confident in launching integrated sports betting alongside our existing internet casino later this year," said Dermot Smurfit, GAN's CEO.

They are among many companies racing to get in on both of New Jersey's growing gambling markets.

Sports betting in New Jersey began last month, generating $16.4 million in bets during its first two weeks.

Internet gambling has grown steadily in New Jersey since its November 2013 launch and provides about 10 percent of the Atlantic City casinos' revenue.

So far, two casinos, the Borgata and the Ocean Resort, and two racetracks, the Meadowlands and Monmouth Park, offer sports betting.

Ocean Resort's internet gambling site had its first full day of operation Tuesday, becoming New Jersey's 27th licensed internet gambling site.

But many others have applied for permission to offer sports betting as well, and all of them hoping to be up and running by the time the first NFL game kicks off in the first week of September.

The Golden Nugget and Resorts have applied for in-person and mobile sports betting. Hard Rock is awaiting approval of its application, and the three casinos owned by Caesars Entertainment have applied for in-person betting, mobile betting or both. In-person betting would be held at Harrah's and Bally's (which also would service the adjacent Caesars casino), and the company would offer mobile sports betting aligned with all three of its Atlantic City casinos.

Officials at the Tropicana did not immediately respond to a request for comment on their sports betting plans. The casino and its parent company are being sold to Eldorado Resorts.

There are 14 potential sports betting licensees: the nine Atlantic City casinos, the three functioning racetracks -- Monmouth Park in Oceanport, the Meadowlands in East Rutherford and Freehold Raceway in Freehold -- and two former track sites -- Atlantic City Race Course in Mays Landing and the former Garden State Park site in Cherry Hill.

Officials at Freehold's parent company did not respond to a request for comment.

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