A lucrative market
PointsBet has launched its first online casino in the New Jersey market. The Australian-based operator announced on Friday that PointsBet New Jersey LLC had gotten the green light to go live from the New Jersey Department of Gaming Enforcement.
currently has iGaming market access in Michigan, West Virginia, Pennsylvania, and New Jersey
PointsBet currently has iGaming market access in Michigan, West Virginia, Pennsylvania, and New Jersey, but has not revealed any timelines for potential launches in Pennsylvania or West Virginia. In the most recent quarter, iGaming revenues totaled almost $900m for these states, extrapolating to an annual figure of more than $3.5bn.
In New Jersey, the compounding annual growth rate of iGaming revenues for the past two years was 62% and 101%, respectively. But while it is a significant market, there are also 33 competitors to PointsBet in the state. The operator initially revealed last summer its plans to expand into the Garden State.
The second PointsBet online casino
Taking about this New Jersey launch, PointsBet Group CEO and managing director Sam Swanell said: “We are thrilled to be able to expand our iGaming presence in the United States and bring our proprietary online casino product to the robust New Jersey market.”
He went on to speak about the operator’s focus on expanding this side of its offering and its efforts to acquire and retain premium clients.
PointsBet’s first online casino in the US went live in Michigan in May. It has sportsbooks up and running in numerous states, including New Jersey, Iowa, Illinois, Indiana, and Colorado. The operator has also secured sports betting market access in numerous other states, including in Arizona this week.
Notable appointment in Canada
In addition to the announcement of the online casino launch in New Jersey, PointsBet also revealed a new high-profile appointment on Friday. As Canada prepares for fully legal single-event sports betting, PointsBet Canada has appointed Scott Vanderwel as its first CEO, beginning August 17, 2021.
A number of other prominent positions in PointsBet Canada have been filled recently as PointsBet looks to be an early mover in this new market. Talking about the plans to expand into Canada, Sam Swanell stressed PointsBet’s commitment to “creating products that fit the consumer’s needs, satisfies the important and necessary requirements of regulators, and enables fans to engage with their favorite sports in new and exciting ways.”
He is confident that the new CEO and his team will be able to achieve just that.