Steve Wynn is Latest Casino Mogul to eye New Jersey Online Gambling
With New Jersey readying for their online gambling launch on November 26th, many companies and casino moguls are excited about the prospect. Las Vegas casino magnate Steve Wynn is one of the interested parties as he’s seeking a way to enter the Garden State’s cyber market.
This is a complete 180 from seven months ago, when Wynn was adamant that New Jersey’s pursuance of online gambling was bad for business. Now he’s filed an online gaming application with the New Jersey Division of Gaming Enforcement in hopes that they’ll approve his company, Wynn Interactive LLC.
At this point, only casinos based in Atlantic City or companies that have partnerships with one of these establishments can participate in New Jersey internet gambling. And though he owns world-famous resorts in both Las Vegas and Macau, Wynn currently has no casinos in Atlantic City. This means that he’s trying to work out a partnership with one of the city’s existing 12 casinos in case his application is approved.
Out of these 12 candidates, only two have yet to find an online gaming partner. The Revel is one of the unhitched AC casinos, and they’ve been mostly worried about taking immediate measures to salvage their $2.4 billion resort, which declared Chapter 11 bankruptcy back in March.
The Atlantic Club Casino is the other establishment without a partner, and this could be a very likely choice for Wynn Interactive. The Atlantic Club was previously in a deal with PokerStars’ parent company, The Rational Group. However, this alliance fell through when The Rational Group was unable to gain an online gaming license in New Jersey.
Seeing as how the Atlantic Club has been floundering financially, partnering up with an established and stable company like Wynn Interactive could definitely help them capitalize on Jersey’s online gambling market.