From Press of Atlantic City – An online gambling firm that is negotiating to buy an Atlantic City casino filed an application Monday to cash in on New Jersey’s Web betting operations, a senior executive said.
London-based 2UP Gaming PLC becomes the latest company to announce its intentions to offer Internet wagering on casino slot machines and table games. Monday was the deadline for applications to be filed with the New Jersey Division of Gaming Enforcement, the regulatory agency that will issue Internet gambling licenses.
Last week, 2UP announced a partnership with the New York investment firm MidOil USA to buy an existing Atlantic City casino. MidOil’s managing director, Vincent Crandon, who will oversee 2UP’s operations in North America, said negotiations continue with undisclosed casinos.
Crandon insisted that 2UP and MidOil have every intention of developing a new Boardwalk casino if they can’t reach a deal by Labor Day to buy an existing property.
“If we don’t have a deal that makes sense, we’re just going to build something,” he said in an interview.
Under New Jersey’s Internet gambling law, casinos must have a physical presence in Atlantic City to offer Web bets. They are lining up partnerships with online companies for Internet gambling sites.
In a preliminary step for entering the Atlantic City market, 2UP filed an application Monday for an Internet license, Crandon said.
