Amaya wins online casino platform & content deal with Caesars in NJ24th September 2013 3:35 pm GMT
In a significant coup for the company, Canada’s Amaya Gaming Group has entered into an agreement to provide its online casino platform, as well as an extensive suite of its online and mobile casino games, to Caesars Interactive Entertainment in the soon-to-be-regulated New Jersey market.
Caesars’ deal with Amaya will be used for the company’s planned launch of CaesarsCasino.com in New Jersey, which is expected to go live with real-money gaming in November.
Subject to all applicable licensing and regulatory approvals, Amaya will receive a share of the revenues generated by the company providing its Amaya Game Office platform to Caesars’ online offering in New Jersey.
Amaya will also generate a percentage of the revenues generated by online and mobile casino games licensed by Amaya to the operator.
Amaya CEO David Baazov said: “This is an immense win for us, one that should extend our online gaming footprint significantly in the United States as well as contribute to our recurring revenue in future years. It is the direct result of the investments we have made in both our Amaya Game Office platform, which has gained significant traction, and in preparation for our entry into the emerging regulated online gaming industry in the United States.”
The news will be a blow to UK-listed 888 Holdings, who already have a deal in place to provide its online poker platform for Caesars in New Jersey (as well as Nevada), which owns four casino properties in the state; Bally’s Atlantic City, Caesars Atlantic City Hotel Casino, Harrah’s Resort Atlantic City, and Atlantic City Showboat.
Under one of the licences, 888 will launch an 888-branded online casino and poker offering in the New Jersey online gaming market, while another licence will be used for Caesars’ launch of its WSOP brand which will be powered by 888.
“The Amaya Game Office platform provides us with a turnkey solution which we plan to use to launch CaesarsCasino.com in New Jersey," said Caesars Interactive CEO Mitch Garber. "It allows us to tailor our product offering and integrate seamlessly with third party content, manage relationships with our customers, and conduct cross-promotional activities with our Caesars hotels."
Caesars has previously made no secret of the fact that it would like to own its own software in the future and has invested in LB Poker, a joint venture with French companies Barriere and FDJ, to help achieve that eventual aim.
Shares in Amaya Gaming Group Inc (Co. Data) (TSX:AYA) have gained 4.78 per cent to CA$6.79 per share in Toronto this morning following the announcement.