CGT Kicks off in New Jersey with Meadowlands

The state of New Jersey will soon be welcoming an entirely new sportsbook, as US bookmaker CG Technology forms a partnership with Meadowlands Racetrack, a sports complex in East Rutherford.

Right before the start of the 2019 NFL American football season, the operator will launch full-fledged sports betting services across the entire state, although…

…an official approval by the New Jersey Division of Gaming Enforcement must first be issued to allow Nevada-based CGT to become the final partner of Meadowlands.

Other sports betting agreements at this racing facility include the one with PointsBet and Paddy Power – Australian operators.

Parikshat Khanna, CEO at CGT, commented:

“We are delighted to enter the New Jersey market and bring forth our decade-plus of experience catering to customers in the country’s biggest gambling market.

As an early mover in the Nevada sports betting business, we always envisioned national expansion that would give American consumers more product options.”

New and Inventive Products

According to Jeff Gural, chairman and CEO of Meadowlands Racetrack, the arrangement with CGT will launch new offerings and bring a lot of innovations to the market, since one of the largest licensed bookmakers in Nevada and beyond has years of experience in the industry.

Apart from Meadowlands, daily fantasy sports provider, FanDuel, is the most successful brand in the state, mostly thanks to its early involvement in the sports betting craze throughout the entire country.

As previously released, the bookmaker from New York has reported in $9.1 million in revenue, while its rival DraftKings earned approximately $6.7 million during the same period.

Contributing To NJ’s Market Development

As one of the major contributors to the development of Nevada’s sports betting industry, CG Technology is known for building high-level sportsbooks inside top resorts on the Strip. It operates eight retail shops and even provides -based wagering services through its app.

As a comparison, the company’s biggest rival, FanDuel, recently formed a multi-state distribution deal with Fresh8, as part of its US expansion strategy. The supplier’s efficient technology should assist the operator and help it save time, cut production costs as well as distribution efforts.

Aaron Dugan, head of online marketing at Fresh8 said that the company’s innovative solutions will not only improve FanDuel’s advertising structure, but also ensure better engagement and betting experience.

The UK-based studio is famous for delivering real-time results, as it interconnects sports fans with personalized bets.

Source:

“CG Technology lands sports betting deal with NJ’s Meadowlands”, igamingbusiness.com, February 8, 2019.