Empire Resorts announced that it has entered into a partnership with an affiliate of the bet365 Group.
The deal will see both companies work together to construct a physical and online sportsbook at Empires Resorts World Catskills in New York.
The agreement is set to last 20 years and will also include the launch of online gaming at the Catskills resort if legislation permits it.
Simon Betteley, President of Hillside LLC, a bet365 affiliate, said: “This landmark agreement, which combines Empire’s gaming operating skill with our expertise in providing best-in-class online sports betting, allows bet365 to tap into what we believe will be one of the most significant online and sportsbook markets in the United States.”
Manny Pearlman, Executive Chairman of Empire Resorts, said: “bet365’s global expertise in effectively developing and executing world-class sportsbooks strongly complements Empire’s leadership in commercial casino operations in New York.
“This collaboration, which will enable Resorts World Catskills to be a leading destination for sports wagering in New York State, 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.”
Building on top of the sportsbook deal, a bet365 affiliate is set to acquire $50m of Empire stock at a price of $20 per share which will make this Empire’s second largest stockholder.
Although sports betting has yet to be legalized in New York this deal puts both bet365 and Empire Resorts in a strong starting position in the event that sports betting is legalized in the 2019 legislative session.