GVC Holdings Announces Nevada, New Jersey License Approvals
GVC Holdings has announced official license approvals in both Nevada and New Jersey, formally clearing the way, among other things, for the return of the famed Partypoker brand to the Nevada online-poker market. GVC also received approval in both Nevada in New Jersey for its Roar Digital joint venture with MGM Resorts.
Partypoker’s approval in Nevada became a near certainty earlier this month when Nevada’s Gaming Control Board (GCB) gave the brand and several related GVC entities its approval on a 2-1 vote after an often contentious hearing. That moved the matter on to the full Nevada Gaming Commission for final conditional approval, which came last week. The conditional approval lasts for two years, after which a final approval process occurs, which is normally a formality absent any mitigating circumstances.
A return date for Partypoker has not been set, though it will be in partnership with MGM. Software testing and approval will take some months before any Partypoker site in Nevada is set for real-money play.
In New Jersey, that state’s Division of Gaming has authorized a transactional waiver for GVC’s online sportsbook and gambling platform, Roar Digital. Roar Digital is a joint venture between GVC Holdings and MGM Resorts, and it also among the several GVC entities receiving Nevada approval as well. The new digital platform was announced last year and is designed to be a state-of-the-art online platform offering online sports-betting and gambling (including poker) operations.
GVC Holdings has released a brief statement about the twin approvals:
GVC Holdings PLC (LSE: GVC), the global sports-betting and gaming group, is pleased to confirm that following a hearing on 23 May 2019 with the Nevada Gaming Commission (“NGC”), the Group has received the required regulatory approvals to operate in the state for an initial two-year period. In addition, Roar Digital, the Group’s joint venture with MGM Resorts, has received a transactional waiver from the New Jersey Department of Gaming Enforcement (“DGE”), to operate in the state of New Jersey.
The NGC approvals clear the way for Roar Digital, to receive its licence to offer online betting and online gaming (currently limited to poker) within Nevada on a B2C and B2B basis, while the transactional waiver from the DGE enables Roar Digital to offer sports betting and online gaming products within New Jersey.
Roar Digital was established in July 2018 to create a world-class sports betting and online gaming platform in the United States, in order to take advantage of the new opportunities created by the US Supreme Court’s decision to overturn the US federal Professional and Amateur Sports Protection Act (“PASPA”).
Kenneth Alexander, CEO said:
“I am delighted the Nevada Gaming Commission has confirmed that GVC meets its stringent regulatory requirements in order to offer betting and gaming products in the state. Coming at the same time as Roar Digital receives a transactional waiver to operate in New Jersey, GVC and our MGM joint venture are hitting important milestones which pave the way for the creation of a market leading US betting and gaming business.”