Shares in FTSE 250 gambling business Playtech (LON:PTEC) climbed by 8.08% to 286.10p (as of 14:40 BST) after it was granted approval to provide casino products in New Jersey. Products will launch soon with Bet365 and Hard Rock Atlantic City and licensing discussions have begun with other operators.
CEO Mor Weizer commented: “This is a major milestone for Playtech. We are delighted to have met the stringent regulatory requirements of the DGE and to be launching in New Jersey with our long-standing strategic partner bet365. The US is a highly strategic market for Playtech and we see significant demand for the full breadth of our product offering. We are initially launching our online casino product in New Jersey and over time will increase our products on offer to include Sports, platform, and Live Casino and we will continue to expand into further states as they regulate. This is the first step for Playtech in the US and we are very excited about the long-term opportunity“.