Twin River hands NJ skin to exchange betting start-up

Twin River Worldwide Holdings has granted the second of three online sports betting skins it is set to gain through its acquisition of Bally’s Atlantic City to Sporttrade, an exchange betting start-up.

The operator’s latest partner is a start-up currently developing what it claims will be the first regulated betting exchange in the US.

Sporttrade was “thrilled” to partner Twin River as it prepares to introduce “a truly differentiated product to the New Jersey market”, its founder and chief executive Alexander Kane said.

“By applying capital markets technology and market structure to the US sports betting ecosystem, we are creating something revolutionary,” Kane explained.

“Sporttrade will establish a first-of-its-kind sports betting venue that will be fair, liquid, and transparent, and we look forward to offering customers innovative betting products at significantly lower costs than traditional sportsbooks.”

The agreement remains dependant on Twin River finalising its acquisition of Bally’s Atlantic City, agreed in April this year.

Read the full story on iGB North America.