The DGE approved the request for the two parties to enter into an agreement through to July 31 and said that the two parties had signed a letter of intent on June 19.
The division added that any request for a renewal would be contingent on Bet365 having fulfilled its filing obligations.
Bet365, whose rival William Hill was the first operator to take bets legally in New Jersey last month, has applied for a casino service industry enterprise (CSIE) licence.
The Hard Rock Atlantic City casino, formerly the Trump Taj Mahal, reopened a week ago and has also launched its first online gaming website.
Source: GMB