sports Entertainment Group announced that its subsidiary GMBL's application has been formally accepted by the New Jersey Division of Gaming Enforcement (DGE) on Monday. This acceptance allows the company to submit its software to the DGE testing lab and apply for a Transactional Waiver.
Once passing DGE testing, the license will allow EEG to operate and service bettors in the Garden State. This includes through its esports-focused sportsbook VIE.bet. The company expects to complete this process and be live taking bets in the state by the end of its Fiscal Q1.
The CEO of Esports Entertainment Group Grant Johnson, said: “This is a major step for us in our growth strategy in the US. According to a study from data firm Interpret, over 50% of U.S. esports fans said they are likely to engage in esports betting so we are confident that demand will be strong. Securing access to what is currently the largest market for sports betting in the US is very exciting. We are also in discussions with partners and regulators in additional jurisdictions to continue our expansion plans.
New Jersey won a U.S. Supreme Court case in 2018 allowing all 50 states to offer legal sports betting should they so choose. It quickly dominated the East Coast market and challenged Nevada for the national lead. With a solid regulatory framework based on player protection, business stability, and growth, the New Jersey gaming industry has enjoyed exceptional growth in recent years.