Trump Plaza and Betfair will partner in New Jersey’s regulated online gambling market. This news was first reported by EGR North America. The two companies have applied for an interactive license in the State. The companies hope to go live on November 26, 2013. This is the date New Jersey has declared all online gambling sites can go live, though it may change if testing or other regulatory hurdles prevent it from being feasible.
Betfair Company Profile
Betfair is located in London. The company was founded in 1999 by Andrew Black and Ed Wray. It was the first company to offer a betting exchange where players placed wagers with each other and not the house. Betfair takes a commission from the winner. It holds licenses in Australia, Gibraltar, Italy, Malta, Spain and the United States. Betfair is publicly traded on the London Stock Exchange.
Trump Plaza Corporate Profile
Trump Plaza uses Donald Trump’s name but he is not the majority owner of the property due to a 2009 bankruptcy. The company is owned by Trump Entertainment. Donald Trump owns 10% of the company through a restructuring agreement and naming rights.
Trump Plaza had entered into a $20 million sales agreement with Meruelo Group. This deal was canceled when Carl Icahn, owner of $289 million of debt on the property, refused to sign off on the deal.
Trump Taj Mahal announced its partnership with Ultimate Gaming earlier this week. Ultimate Gaming is a subsidiary of Station Casinos in Nevada. Ultimate Gaming’s Ultimate Poker is the only regulated online poker room in the U.S. that has already launched. Ultimate Poker went live on April 30, 2013.