Bwin.party, a European giant in online bookmaking has finally set its sights on foreign shore as it confirms Nevada licensing with Boyd Gaming Corporation along with MGM Resorts International. The European bookmaking authority based in Gibraltar awaits approval from the gaming regulators of the state of Nevada after its application was filed over a year ago. Bwin.party Chief Executive Officer, Norbert Teufelberger stated in an interview that the company opted not to physically locate and operate in the Nevada State. However it would focus all its resources in New Jersey. It is common knowledge and news in the Internet betting industry that the state of New Jersey basically modified and enacted its laws for virtual wagering early in 2013.
According to the legal representative of Bwin.party in Nevada, Frank Schreck, the company chooses New Jersey because it is the only state that offers a definite and sure time table. Nevertheless, the European based company is still pursuing its Internet casino ventures in Nevada. The announcement from Bwin.party CEO was made right after reports of the decline of net earnings of the company last year 2012 with a whopping 17% plummet. Moreover, the company likewise deduced its revenue estimates for the current year 2013. Teufelberger further stated that there is high potentials and hopes that Bwin.party could split the earnings and revenue with Caesars Entertainment Corp. Caesars operate and manage four of the twelve major bookmaking properties in New Jersey particularly Atlantic City. Caesars is also in its way of launching WSOP branded site to debut in New Jersey.
The launch of Bwin.party in New Jersey and Nevada wagering market is to take place with its collaboration with another prime gambling company Boyd Gaming. Boyd Gaming is the 50% owner and operator of Borgata, the leading bookmaking provider in the market. According to Keith Smith, Borgata brand CEO, the collaboration of Bwin.party with Borgata would open its doors to gaining a substantial share in the lucrative Internet betting market. Internet wagers in New Jersey and Nevada are allowed to place their bets in computers and devices only within the borders of the states.