This Monday brought the official announcement about the collaboration of Toronto-based The Stars Group and casino developer and operator Eldorado Resorts which is going to give the Canadian online gambling company the chance to provide its wide array of offerings at the casino venues overseen by the operator. This is going to provide The Stars Group with a foothold in the gaming fields of as many as 13 states.
The long-anticipated arrangement between the two leading companies will enrich gaming offerings in the states to the liking of Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio, and West Virginia which currently feature venues operated by Eldorado Resorts. In addition to that, the partnership will also cover any new gambling facilities launching operation as part of the portfolio of Eldorado Resorts.
Online Offerings Set to Launch Soon
What should be taken into account, is that at the moment the Canadian gambling giant has its influence in the gaming markets of New Jersey via its BetStars brand, as well as in Pennsylvania via Mount Airy Casino Resort, The state is currently going through a riveting gaming expansion with the launch of online and sports gambling. With the help of this newly-announced partnership, The Stars Group is going to swell its influence throughout the states and become an even more recognizable brand.
The states allowing sports gambling at the moment or in the upcoming years will be able to see the Canadian sportsbook provider launch online operation associated with venues such as Lady Luck Casino Nemacolin and Presque Isle Downs & Casino in Pennsylvania, Lady Luck Casino Vicksburg in Mississippi, Mountaineer Casino in West Virginia, and Tropicana in Atlantic City. Along with wagering on sports events, casino patrons will be able to enjoy the poker and casino offerings of the Toronto-cased provider.
Additional details regarding the offerings were also provided today, specifying that within the states where there is only one casino venue overseen by the casino developer, The Stars Group is going to provide players with second skin access to its premium sports book. As for the states where there is more than one casino facilities in operation, patrons will have the chance to enjoy first skin access.
Successful Q3 2018 for the Group
According to the detailing of the agreement, Eldorado Resorts is going to bag a portion of the revenue generated by the offerings, whereas the Canadian company is going to provide about 1 million common shares amounting to US$25 million. The price per share will reach US$23.22.
In a recent statement announcing the Toronto-based giant’s performance over the third quarter of this year, The Stars Group made it clear that the revenue reached some CA$755,813,953.49. This marks a 74 percent surge of the total revenue amassed by the company, boosted by the purchases of Sky Betting and Gaming, as well as the launch of operation of BetEasy in Australia. From this amount, the organic growth of the company amounted to 7 percent reaching CA$465,644,820.30 by the end of Q3.
The Stars Group chief executive Rafi Ashkenazi is more than content with the performance demonstrated, as this year has been dedicated to establishing dominance in many markets around the globe. At this point, the giant is a force to be reckoned with in the UK online betting and gaming field. Now, this is set to happen in the US as well, as upcoming months will see more of the company’s quest.
(No Ratings Yet)
Loading...