Fox has partnered with the Stars Group to bring a sports betting app to mobile-ready US states.
GIANT gambling company The Stars Group has signalled its intention to enter the USA in a big way with a multiyear deal which makes them an authorized gaming operator for the NBA.
While it is common-place for sporting leagues to have official gaming partners it is only just beginning to happen in the USA and it is the first agreement of its type struck by The Stars Group in this country.
The partnerships means The Stars Group will have the right to use the betting data the NBA has across the company’s digital sports betting sites, which includes brands like Betstars and Australian-facing BetEasy, on top of recent acquisition Sky Betting & Gaming.
The Stars Group is one of the biggest gambling companies in the world and is largely known for its Pokerstars brand, which is regarded as the best poker client used by millions of people across the country.
So far The Stars Group has only pushed into the regulated New Jersey market but the the company has plans to grow its USA focus quickly as more states legalise online sports betting.
Head of Fantasy and Gaming NBA Scott Kaufman-Ross said the opportunity to partner with “an accomplished global online gaming leader” was an exciting opportunity for the world’s biggest basketball league, while it also gave them scope to expand fan engagement the betting opportunities overseas through The Stars Group’s reach.
Senior Vice President of Strategy & Operations at the Stars Group USA Matt Primeaux said the potential offered through the partnership with the NBA continues their “US strategy” and will allow them to provide a better experience to customers and help them protect the integrity of games.
The new partnership means The Stars Group will be promoted across the NBA’s various media channels, including their website, NBA TV, social media platforms and the NBA app. In return the NBA will be advertised across The Stars Group’s platforms, including their poker offerings.
The pairing has also vowed to work closely together to promote responsible gaming, while they will also work towards creating world’s best practices to protect the integrity of games in the NBA, which might be impacted by betting.
This latest partnership is likely to be one of many the NBA strikes across the USA as more states legalise gambling, with no mention of The Stars Group Deal being exclusive or a one-off across the country.
Following approval from the Competition & Markets Authority, the Stars Group announced the completion of its purchase of Sky Betting & Gaming in a $4.7 billion takeover.
The Stars Group will extend its agreement with Resort Casino Hotel in New Jersey to include sports betting. We look at all the developments and the effects for American punters.
The Stars Group has completed the $4.7 billion acquisition of Sky Betting and Gaming.
With the completion of the deal the company says it is now “the world’s largest publicly listed online gaming company”. It also believes it finally has a sports offering that matches its global dominance of poker, through it’s Pokerstars brand.
The Stars Group, last April, reached an agreement with the owners of Sky Bet — CVC Capital Partners — and media giant Sky PLC to acquire Sky Bet and its brands.
The Stars Group believes the deal “dramatically improves The Stars Group’s revenue diversity, creating a balanced spread across poker, casino and sportsbook with a broad geographic reach.”
Even before the acquisition, Sky Bet was one of the leading betting operators in the United Kingdom. Revenue of the company went up by 38% to £516m (€585m/$685m), in the last financial year. In addition, patronage also increased by 31% to 2.6 million.
The company posted an increase in profit of 38 per cent to £146m before tax, compared to £105m in 2016 in the period up to June 30. The increase in revenue has continued to the first half of this year as revenue is up by 58 per cent to £210m.
The CEO of Stars Group Rafi Ashkenazi in a statement said, “this acquisition represents a pivotal moment in The Stars Group’s evolution.” He said the deal would allow the company to develop sports betting “as a second customer acquisition channel”.
“We believe this combination along with our combined online casino offerings positions The Stars Group for continued growth in the evolving online gaming industry.”
The integration of Sky Bet’s technological expertise in the sports area and their portfolio of mobile apps and casino offerings mean they were a perfect acquisition for Stars.
The latest acquisition comes hot on the heels on Stars Group’s decision to enter the Australian wagering landscape, following the purchase of Crownbet, a licensed sports betting operator down under.
Just weeks before this deal was finalised Crownbet acquired William Hill’s Australian offerings, creating one of the biggest gambling companies in this part of the world.
It has not all been smooth sailing for Stars though, with the company needing to rebrand both these acquisitions to stop clashes with former ownership, however a rival bookmaker — Sportsbet — quashed the preferred new brand — Sportingbet.com.au — in the Supreme Court because it believes it infringes on their brand. BetEasy.com.au is now the frontrunner for the solidified brands in Australia.