Advancements in the NJ Online Gaming Market
New Jersey is key for affiliates who want their foot in the U.S. market. As regulations change, more and more companies are dipping their toes in this booming market. New Jersey's gaming revenue has seen a rapid increase from year to year, reaching $319.2 million by December 2018.
GiG steps into the NJ online gaming market
Gaming Innovation Group (GiG) stepped in in November of 2018, as it was establishing its affiliate business in New Jersey. The company applied for its license in the Garden State last year and received vendor registration from the New Jersey Division of Gaming Enforcement, thus expanding its reach in New Jersey.
The company was already set up to provide a NJ online casino and sports betting platform to one of the Atlantic City casinos properties, Hard Rock casino. GiG confirmed online sports betting sites would be ready to launch with Hard Rock AC at the start of 2019. Starting in the first quarter of 2019, GiG will be able to refer web traffic to regulated operators on a cost-per-acquisition basis.
In the past year, GiG's media services arm has been working on the early stages of monetizing the websites and marketing channels. The company has been advancing its assets, preparing for the US online gaming market.
GiG's chief operations manager Richard Brown stated, “We are excited to receive our vendor registration, enabling us to start referring traffic to the operators in this jurisdiction. It is an exciting opportunity for us, however, we expect the state-by-state legalization of sports betting to materialize at a slow rate. There is strong competition in the market, but we are confident we can replicate, in the U.S., the success we have achieved in the highly competitive European markets.”
Catena media gains attention
Catena Media has been another advancement in the New Jersey online gaming market. Catena Media closed an $11 million deal, acquiring NJ online gaming affiliate, BonusSeeker.com. Catena acquired other companies quite recently including
- Dreamworx Online
Henrik Persson Ekdahl, acting chief executive of Catena Media, intends to continue working towards establishing a leading position in the US iGaming market. The affiliate company currently controls the NJ online casino affiliate market, accounting for more than 70% - a market offering extremely high CPAs.
The growth of Better Collective
Affiliate provider, Better Collective, is also on an incline. The company's recent developments in the US market have helped it to shape its strategy and expand beyond Europe.
The company's revenue has seen a massive yearly increase reaching a recent €9.7 million. Earnings have lifted by 90% to €3.8m. The company's M&A activity with sports betting focused businesses has helped the company to expand. Their recent activity has involved companies such as SpilXperten, Bola Webinformation, and WBS.
Company CEO Jesper Søgaard discussed the IPO, which produced net proceeds of €65 million. He stated that this has helped the company to achieve more opportunities for M&A activity.
Better Collective anticipates that regulatory changes of online gaming in America could significantly alter the company’s strategic scope. The company aims at expanding geographically as well as organically and through M&A opportunities.
The company already has an affiliate license in the NJ online gaming market and plans to monetize their website traffic more as the states begin to regulate and the U.S. market begins to shift. Søgaard stated that although the company is now involved in New Jersey sports betting, they cannot expect a huge impact as of yet.
Other online gaming advancements
RakeTech and BettingExpert were involved in the US market through M&A strategies and the U.S. market was also recently introduced to Bookies.com, relaunched by Gambling.com.
More changes to the growing U.S. market are filtering through slowly as laws and regulations develop around NJ online gaming and the Atlantic City casinos.