The Stars Group has already made quite a name for itself overseas. Now, it’s being more than clear about its intentions to become a major player in US sports betting through its sister company, BetStars. BetStars NJ has already seen success when it comes to NJ sports betting, but now the company is looking to enhance its sports betting reach.
The Stars Group needed a partner with the necessary influence and gaming network to make that happen. Well, as it turns out, it just got one! The company signed a massive deal with Eldorado Resorts that includes a timeline of 20 years and a business plan that spans over 13 states.
Naturally, a deal this big can’t go without a proper announcement from the CEO of the Stars Group, Rafi Ashkenazi. Ashkenazi shared that this deal will be the foundation for the company’s entire US sports betting strategy, including both PokerStars and BetStars.
The partnership currently gives the Stars Group access to 28 sportsbooks in 13 states that Eldorado has operations in:
- West Virginia
- New Jersey
BetStars Is Eldorado’s Second Online Sports Betting Skin
The deal grants access to Eldorado’s second online sports betting skin in the BetStars Sportsbook, as well as its third skin meant for real money online gaming and poker platforms in PokerStars. The Stars Group is paying a grand sum of $25 million for the honor, as well as offering Eldorado $5 million in TSG equity.
Eldorado’s CEO Gary Carano also had something to say about the partnership, sharing that he expects the company to benefit from every bit of TSG’s recognizability, diversity and market leverage.
This means The Stars Group is Eldorado’s second sports betting partner. William Hill will continue to be the company’s exclusive partner for retail sports betting, while the online platforms of PokerStars and BetStars NJ will operate under the skins developed by Eldorado.
We could be seeing the two platforms launch in any of the four states on Eldorado’s map of operations that already offer sports betting: Mississippi, West Virginia, Nevada and of course, NJ sports betting where the BetStars app is already live.
Before the end of the year, Pennsylvania may be added to that list as well. In fact, all of the states that Eldorado operates in have expressed interest in regulated sports betting, except for Florida. The list includes Colorado, Ohio, Illinois, Indiana, Iowa, Louisiana and Missouri.
With the landscape of the market constantly changing, it’s hard to tell just how big this deal could turn out to be for both companies. Odds are - very, very big.
BetStars Already Active In NJ Sports Betting, Looks To Expand
The Stars Group has already made grave progress in some states without help from Eldorado. The company is already part of an operational partnership with Mount Airy Casino in Pennsylvania, where it’s said to be launching a full package of online casino games, sports betting and poker, to be represented by its two brands, PokerStars and BetStars.
It’s got an even bigger advantage on the NJ sports betting market, where the BetStars app was amongst the first 10 platforms to launch. In New Jersey, the app operates under a Resorts Casino license, which it shares with the market’s biggest player - DraftKings. This gives BetStars the advantage of being put in the same category as DraftKings Sportsbook and therefore generally regarded as a market leader.
Now that domination of the NJ sports betting market is ensured, the Stars Group is ready to expand further beyond state borders, thankfully with support from industry giant Eldorado.