The Stars Group made it clear recently that the gaming company is about to enter the state of Michigan and its online gambling field on an entirely new level. This would happen through a new arrangement inked with the Little Traverse Bay Bands of Odawa Indians Gaming Authority. It would allow online wagering and gambling within the borders of the state and the introduction of premium offerings.
The Toronto-based gaming giant has recently gained access to a whole new gaming market with new business opportunities and promises for an increased number of players laying hands on its advanced gaming products. The Stars Group rings in the new year by making its way into Michigan’s online gambling market teaming up with a tribal gaming entity.
Sports Wagering Launches
Sports betting has been a topic of wide discussion over the past nearly two years of gaming operation in the United States. Every state has the freedom to greenlight its operation with its unique set of rules and highlight all the features that could make it a successful venture. December 2019 was a special month for Michigan, as local lawmakers gave their nod to a package of sports betting regulations.
Local players are in for a treat, as they would have the chance to experience both in-person and online sports betting, making the offering an easily accessible one. Tribal gaming in the region is heavily developed with 23 tribal locations vs. three commercial ones. Michigan also boasts two racetracks that currently have pari-mutuel betting on racing horses.
Governor Gretchen Whitmer gave her nod to the sports betting bill, allowing sports wagering across the tribal and commercial casino locations. The tax established on sports wagering would be 8.4 percent of the gaming revenue generated by a given gaming venue. As for the commercial casinos in Detroit, they are eligible for a city tax amounting to 1.25 percent on top of the revenue one.
Michigan Ready for Legal Sports Betting
Over the following twenty years of gaming operation, Little Traverse Bay Bands of Odawa Indians will be teaming up with the Canadian gaming powerhouse. The first skin market entry of The Stars Group would make it possible for the leading company to offer sports wagering, as well as online poker and casino gaming. Robin Chhabra, Chief Executive Officer, FOX Bet, made it clear that the premium fusion between gambling and media would also enter the market.
It should be taken into account that The Stars Group already has a second-skin gaming license associated with Penn National. FOX Bet managed to take over the fields of New Jersey and Pennsylvania, as well as introducing premium Sports Super 6 to its fans across the nation in the fall of 2019. Michigan is yet another step of its expansion bringing wagering on sports events closer to the people.
The Stars Group issued financial information on the third quarter of 2019 fiscal year. The total revenue generated by the gaming powerhouse reached US$622,484 marking an 8.8-percent surge when compared to its performance during Q3 2018. About a year ago, The Stars Group announced total revenue reaching US$571,983.
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