The division of the New Jersey Attorney General’s office responsible for enforcing gaming legislation has ruled that licences held in the state by bwin.party remain valid, following GVC’s purchase of the company.
The New Jersey Division of Gaming Enforcement (NJDGE) permitted bwin.party to continue despite the February acquisition of its entire issued share capital by Isle-of-Man-based competitor GVC, which lacked a New Jersey licence.
GVC and its individual qualifiers possess the requisite good character, honesty, and integrity should it file for a transactional waiver.
The NJDGE has now ruled that a transactional waiver is not needed in connection with bwin’s existing New Jersey contracts – declaring that its previous licences still hold validity within the state’s jurisdiction. As a consequence, the NJDGE has ordered the termination of a monitoring agreement under which bwin had been operating since the acquisition by GVC.
“GVC and its individual qualifiers possess the requisite good character, honesty, and integrity should it file for a transactional waiver,” stated the NJDGE ruling.