Stars Group and Eldorado Sign 20 Year Agreement

This week Canadian gambling giant The Stars Group has signed a 20 year sportsbetting agreement with Eldorado Resorts, which will poise the online giant to offer services in new markets as online betting is legalized.

The agreement will see Stars getting the option to offer online services through Eldorado owned casinos in areas where online sportsbetting is legal. The ability to potentially offer online casino and poker games in the future as well. The company will get the second skin rights, meaning that they come in second to William Hill, who currently has first skin rights.

To secure the agreement TSG paid $25 in equity share in its company, with a further $5 million available. That could grow even higher after five years, dependent on the revenue taken in by the agreement. Eldorado has operations in thirteen states, and the deal covers Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio, and West Virginia.

Commenting on the agreement Stars Group CEO Rafi Ashkenazi said, "We are excited to announce this agreement with Eldorado, one of the fastest growing regional gaming companies in the United States. This agreement establishes the foundation for our U.S. strategy as we tactically pursue access to other key states and opportunities with potential media partners."

Eldorado CEO Gary Carano added: "The Stars Group is one of the world's largest, most licensed and most geographically and product diverse publicly listed online gaming companies. We are excited to work with The Stars Group to capitalize on their proven ability to leverage their products to gain share in the growing market for online gaming."

About the author

1 reply • Last post

Comments

bgsharpe
Forum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 5868
Thanks given: 2397
Thanks received: 753
14 December 2018 - 3:45pm
#1

Not sure but I think deals of such duration of time are quite rare occurrence in the gambling business generally so it looks like those two have quite a large plans for this partnership in the coming years and even beyond.

Post new comment

Have something to say? Agree or disagree? Tell us what you think!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.