The Stars Group Further Expands Its Market Presence in the US
According to available information, The Stars Group will enter Michigan’s online gambling market through a partnership agreement with the Little Traverse Bay Bands of Odawa Indians Gaming Authority.
Under the provisions of this deal, The Stars Group will be allowed to offer online betting and gambling within the Great Lakes State, while at the same time the company will introduce its premium offerings to its new customers.
Having gained access to the US gaming market, The Stars Group now has plenty of business opportunities as it can offer its products and services to more customers. The company kicks off the new year with an ambitious entry into the online gambling market in Michigan, through a collaboration with a local tribal entity.
The Launch of Sports Betting
Ever since the US Supreme Court overruled the infamous PASPA act, back in 2018, wagering on sports has become an important issue across the United States. Thanks to the court’s historic decision, every state can determine whether it wants to offer sports betting to its residents or not.
Last month, Michigan lawmakers decided to approve the new sports betting legislation, making this activity legal. Players in this state will now have the opportunity to enjoy betting in-person or online. The state boasts an extensive gaming offering, with 23 tribal gaming locations and 3 commercial ones, as well as 2 racetracks that offer pari-mutuel wagering on horse racing.
Governor Whitmer approved the new piece of legislation, under whose provisions tribal and commercial gambling venues will be able to offer wagering on sports. Taxes on sports betting will be set at 8.4%, with an additional 1.25% for casinos in Detroit.
The Stars Group Is Ready
Once they join forces with Little Traverse Bay Bands of Odawa Indians, The Stars Group will be able to offer its services to players in Michigan, in its first skin market entry. The company will offer not only sports betting, but also online poker and casino games. FOX Bet, the first media and sports wagering partnership in the United States, created through an agreement between the Canadian powerhouse and FOX Sports, will also be there.
The Stars Group has another gaming license in the US, associated with Penn National. The two sides partnered in July last year.
Apart from Michigan, FOX Bet has already established its presence in New Jersey and Pennsylvania, while launching premium Sports Super 6 to customers across the country. The new deal and the Michigan entry will further cement the positions the company has.
2019 has been a good year for the Toronto-based business. According to the financial results for the year’s third quarter, the revenue generated by The Stars Group increased by 8.8% when compared to the corresponding period of 2018. It is expected the numbers have also gone up in the final three months of 2019, though the Q4 results are yet to be posted.