TheScore, a Canadian sports betting, and media giant, is set to launch an online casino in New Jersey, following a market access deal with Twin River Worldwide Holdings.
The Twin River deal will allow theScore to add its online casino games to theScoreBet app in the spring or summer of 2021. The Canadian company’s sportsbook app launched in 2019, as a sub-licensee of Darby Development, operator of Monmouth Park Racetrack.
However, the online casino launch still needs regulatory approval from the New Jersey Division of Gaming Enforcement, as well as a partnership with a brick-and-mortar casino. Twin River also needs to finalize its acquisition of Bally’s Atlantic City Hotel and Casino before theScore mobile casino goes live. Twin River’s $25 million Bally’s acquisition is expected to be complete by March, 2021.
John Levy, theScore founder, and chief executive said, “Adding an online casino to our award-winning and truly different mobile sports betting app broadens our reach. It also and deepens our robust portfolio of assets.”
Levy went on to say, “This is just one more step towards giving our media and betting customers a tightly integrated and completely holistic media and gaming experience.”
TheScore mobile-first sportsbook combines real-time sports news, scores, and alerts, creating content that is comprehensive, mobile-optimized, and seamlessly customizable. The cross-over of sports bettors that also play casino games like roulette and blackjack is around 30-40%. Making casino games accessible to sports bettors only makes sense from a revenue perspective.
TheScore also recently penned a deal with Penn National Gaming; that 20-year deal gives theScore with the right to obtain market access through Penn for its online and mobile sportsbook and casino games in the eleven states where Penn National currently operates racetracks and casinos, as well as any future states in which Penn gains access.
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The Deal Between theScore and Twin River
The deal will give Twin River a share of theScore’s online casino revenue; that revenue is also subject to a minimum annual guarantee as well as an up-front fee. Those numbers have not been disclosed. The deal covers an initial 10 years, and after that, can be renewed for two more five-year terms.
George Papanier, Twin River president and chief executive thinks that the partnership will provide the Bally’s Atlantic City guests with “a very personalized gaming experience”.
“We look forward to working with theScore and engaging our guests as they try out this new and exciting platform.”
While theScore is best known as a sports betting app, it’s also not uncommon for an online sportsbook to also offer its patrons an online casino. The potential for cross-selling is significant, and it can add up to a lot of revenue.
For example, DraftKings also launched a casino app shortly after launching its sportsbook app in New Jersey. FanDuel also has a combined casino-sportsbook app with a shared wallet. TheScoreBet online casino is just one more combination sportsbook/casino app to launch in the Garden State.
Twin River Lining Up Atlantic City Partners
TheScore is the just newest licensing partner Twin River has announced in recent weeks; PointsBet has also been granted a casino skin under the Bally’s Atlantic City license.
Twin River has also signed market access deals with Esports Entertainment Group for an online sportsbook, and with SportTrade for online exchange sports betting.
As the new owner of Bally’s, Twin River can partner with up to three sports betting skins and five online casinos. TheScore will be one of those online casinos.
Twin River is systematically setting the stage for relaunching Bally’s, once the sale is complete. The Rhode Island casino operator is not only lining up digital partners, but also has big plans to refurbish the brick-and-mortar Atlantic City casino, including new restaurants and a new retail sportsbook.
