International Game Technology (IGT) has announced that it has inked an agreement with the newly formed FanDuel Group, related to the provision of a sports betting platform for the newly regulated state of New Jersey.
Operating under the FanDuel Sportsbook moniker, the new venture sees Paddy Power Betfair (PPB) own 61 per cent, with investors for US facing daily fantasy sports firm FanDuel possess the remaining 39 per cent.
Leveraging PPB’s pricing, trading and risk management solutions, which have been integrated into the IGT platform, a “best-in-class” customer experience is also to be offered via a bespoke user interface.
Matt King, FanDuel Group CEO, explained: “We are delighted to choose IGT’s leading platform for our sports betting platform in New Jersey, starting with the recent ‘go live’ at the Meadowlands Racetrack.
“When we evaluated sports betting platform provider partners in the U.S., IGT was the ideal choice, based on the company’s proven history in the space and the quality, reliability and flexibility of the sports betting technology that it has deployed for customers around the world.”
This follows the opening of the first FanDuel Group sports betting retail establishment, at the Meadowlands Racetrack in East Rutherland NJ, close to the New York state border, on Saturday July 14.
Enabling guests to wager over the counter at the 5,310 square foot location utilising IGT technology, it is hoped that over the coming months self-service kiosks and other retail services will also be offered.
Furthermore, the PPB subsidiary also has designs of a “sportsbook-branded online and mobile wagering” being offered in the near future, further strengthening the roots of this fresh agreement.
Enrico Drago, IGT Senior Vice President of Interactive, Sports Betting, Licenses, commented: “IGT’s sports betting technology combined with the expertise of FanDuel represents two experienced, complementary sports betting companies coming together to create a reliable, world-class sports betting experience in New Jersey.
“As sports betting in the U.S. continues to evolve, IGT is prepared to address the needs of its partners through proven solutions and technologies that can be deployed today to advance sports betting across land-based and mobile platforms.”