It is worth watching the every move of those companies that were handed a New Jersey transactional waiver on Friday. While the transactional waiver gives Atlantic City’s casinos the green light to launch interactive gaming, many of their suppliers will still have some work to do to get their houses into a satisfactory regulatory shape.
Take Amaya, for example. To all intents and purposes, the Canadian supplier has played a blinder in New Jersey. It is powering CaesarsCasino.com while Golden Nugget and BetfairCasino.com (Trump Plaza’s brand) will use Ongame’s poker and the Borgata will use its casino games.
The web of deals that got Amaya to here is fascinating. Firstly, the deals to buy everyone’s unwanted assets (Ongame, Chartwell and CryptoLogic) look to be paying off. The paltry $15m that Amaya paid bwin.party for Ongame looks like genius. Not only did they get a serviceable poker network, CEO David Baazov then had the chutzpah to return to the seller and demand damages to the tune of $5.1m.