C.J. Fisher, Co-Chair of Fox Rothschild’s Gaming Department, represented NYRA Bets in its deal to become the Managing Vendor of New Jersey’s online and mobile pari-mutuel account wagering system for horse racing.
The transformative agreement will, for the first time, allow New Jersey residents access to multiple account wagering platforms for placing bets.
NYRA Bets, the official advance deposit wagering (ADW) platform of the New York Racing Association, Inc., was selected by Darby Development LLC, which acted as agent of the New Jersey Sports & Exposition Authority.
Its NYRA Bets platform “provides fans the opportunity to wager on tracks worldwide from anywhere at any time” and is currently available in 36 states.
Through the deal, all account wagering platforms will have the opportunity to enter the New Jersey market with approval from NYRA Bets, Darby Development and the New Jersey Horse Racing Commission.
The transaction is expected to “usher in a new era for horseplayers in New Jersey” and benefit New Jersey consumers by increasing competition, said Tony Allevato, President of NYRA Bets, in an official press release. Dennis Drazin, Chairman and CEO of Darby Development, added that the agreement was “a win for the patrons in New Jersey, allowing them to have choices for the first time as to which site they prefer to wager with.”
Pending the approval of the New Jersey Racing Commission, NYRA Bets will coordinate with online/mobile/sportsbook operators to establish a launch date later this year, with 4NJBets, operated by TVG, continuing to operate as an online and mobile wagering site in New Jersey.
Darby Development LLC operates Monmouth Park racetrack and two off-track wagering sites in New Jersey.
Fisher was assisted by Fox Rothschild partner Peter F. Kelly.
Original source can be found here.