Bet365 world’s leader in online gambling will form a 20-year alliance with Empire Sports Inc. The two partners intend to offer sports betting and online gaming in New York. They will start at Resorts World Catskills, one of the four casinos in New York currently authorized to offer retail sports betting.
The agreement is believed to change the landscape of online gaming in the USA. Empire Sports Inc. which is widely considered as the leader in commercial casino operations in New York strongly compliments global expertise in developing and executing world-class sportsbooks. The two giants plan to claim a leading role in a potentially enormous market.
Hillside, a subsidiary affiliate of Bet365, will acquire up to $50m of Empire common stock. The price is agreed at $20 per share in two tranches. Therefore, they will become Empire’s second-largest stockholder.
“This collaboration, which will enable Resorts World Catskills to be a leading destination for sports wagering in New York State. It highlights our commitment to the continued growth of Resorts World Catskills, as well as our dedication to working with the best, most innovative pioneers in the industry to provide world-class gaming options” said Manny Pearlman, Executive Chairman of Empire Resorts, Inc.