Betfair Stays Open Despite Trump Plaza Closing

The gambling community in New Jersey has been rocked over the past few weeks. There have been reports of terrible financial results from the major casinos, leading to closures in many cases. Casinos such as the Trump Taj and Trump Plaza will not remain open any longer.

Only a few years ago, people thought that Atlantic City was on the rise. There was a legitimacy about the region, with comparisons made to the popularity of Las Vegas. However, casinos have struggled to maintain solid profits and most of them do not see how they can stay open any longer.

Impact on Betfair

The imminent closing of Trump Plaza will also have an impact on New Jersey’s online betting sphere. The land based casino is partnered with online betting site, Betfair. When New Jersey legalized online gambling, they ruled that all online sites had to partner with existing land based casinos.

With Trump Plaza dead, there was concern that Betfair would also have to leave New Jersey. The state’s government has decided to leave it running for now. The state’s Gaming Enforcement Committee had this to say on the matter: “Betfair will be allowed to continue operating until the Trump Plaza casino license expires. Most licenses are valid for two years after the casino stops operations, which gives Betfair plenty of time to find a new land based partner.”

Trump Plaza closed on the 16th of September 2014. If Betfair wants, they can remain open under that alliance until September 15th 2016. However, they have been advised to find a partner as soon as possible. “If they are willing to stay in New Jersey for the long run, we are committed to finding them a new partner,” said a spokesperson for the NJ Gaming Enforcement Committee. Betfair has not publicly commented on the situation.

Trump Plaza Closing

The partnership of Betfair and Trump Plaza was not enough to keep the land based casino open. They won over $4.5 million from gamblers in January to July. This was tied last in New Jersey, along with the Trump Taj and Ultimate Gaming alliance. In comparison, the website Borgata won $27 million and Caesars Interactive won $21 million.

The failure of both Trump casinos in recent months has led many to question their advertisement strategies. Both land based casinos did very little to promote their online gambling partners. Instead of making a concentrated effort to publicize the partnership, they kept it as discreet as possible. This backfired on the companies, with gamers choosing other establishments for their business.

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October 20, 2014 by : posted in Uncategorized No Comments

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