Betfair US has announced a duo of long-term east coast digital and retail sports betting agreements, in its first major partnership since the United States Supreme Court overturned PASPA.
The Paddy Power Betfair (PPB) subsidiary is to provide online, mobile and retail sports betting to New York’s Tioga Downs and Meadowlands Racetrack in New Jersey.
Ahead of the provision of “a full suite of cutting edge sports betting products to customers in New Jersey and New York,” which pends legislative and regulatory authorisation, Betfair US CEO Kip Levin stated: “We could not be more excited to partner with Jeff 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.”
Expansion within the United States comes in the immediate aftermath of PPB’s pending acquisition of daily fantasy sports operator Fanduel, subject to customary closing conditions and regulatory approvals, which is expected to be completed in Q3 2018.
Jeff Gural, Chairman of New Meadowlands Racetrack LLC and Tioga Downs LLC, added: “Sports betting is a great opportunity for Meadowlands and Tioga Downs. We went through a diligent process and reviewed several options to provide customers with the best sports betting experience possible.
“In the end, Betfair’s world leading products and experience proved the best choice. 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.”