Australian sports betting giant PointsBet has added to its online casino in Michigan, with a second one in New Jersey. Does this move herald an expansion across North America?
PointsBet has officially launched its first online casino in New Jersey. The Australian gambling group announced Friday that the company had received approval from the New Jersey Division of Gaming Enforcement (DGE) to legally operate in the Garden State.
PointsBet already operates as a sportsbook in several US states, including Pennsylvania, West Virginia, and Michigan. In May, Michigan became the first state where PointsBet launched an online casino. However, casino fans were left disappointed that Friday’s announcement made no mention of a potential launch in Pennsylvania or West Virginia anytime soon.
The company is primarily a sports betting operator, with active sportsbooks in states including Iowa, Illinois, Indiana, Colorado, and New Jersey, and has plans to open more online books in the near future.
Sam Swanell, the CEO and managing director stated that PointsBet Group was thrilled to expand the company’s gaming presence in the United States and “bring (their) proprietary casino product to the robust New Jersey market.”
New Jersey has recorded a compounded annual iGaming growth of 62% and 101% over the past two years respectively. But while the state is now firmly established as America’s most lucrative market, it is also the most competitive, with 33 operators currently competing for market share.
Apart from New Jersey, PointsBet also prepares to imminently launch in Canada, with PointsBet Canada appointing its first CEO — Scot Vanderwell – who will start his duties on August 17, 2021.
PointsBet is rapidly moving to become an early entrant to the burgeoning Canadian iGaming market, with most positions on their executive team already filled. Swanell stated that PointsBet is committed to creating products that fit the needs of consumers, satisfy the requirements from regulators, and enable fans to bet on their favorite sports in exciting ways.