The Stars Group (TSG) has announced details of its new deal with Eldorado Resorts that could see it offer online gambling which include sports betting and online poker in 13 states across the country.
Eldorado currently operates casinos in Florida, Illinois, Colorado, Iowa, Indiana, Ohio, Missouri, Nevada, Mississippi, West Virginia and Louisiana. With its existing partnership with Pennsylvania and New Jersey, the deal grants TSG market access to a total of 13 states.
Eldorado Resorts is among leading casino firms in the US, operating 28 properties in 13 states. Eldorado’s properties include over 30,000 slot machines and VLTs, 800 table games and more than 12,500 hotel rooms. Among attractions associated with the company are The Brew Brothers, the Eldorado Showroom, the Statue Fountain and the NoVi Lounge.
TSG can own and operate real-money online gambling including sports wagering, poker and online casino games in all applicable states under the new agreement. Operations are subject to state law, license availability and regulatory approvals. In states where Eldorado has more than one casino, TSG will give first-skin access for sports betting. In all other states covered by Eldorado, TSG will provide second skin access.
Two-Way Street
Announcing the new partnership, TSG’s Chief Executive Officer Rafi Ashkenazi said the company is excited to work with one of the fastest growing regional gaming firms across the US. He said the new deal will serve as a gateway for the company as it tries to gain access to other key states and explore bigger opportunities with future media partners.
In a statement, Chairman and CEO for Eldorado Gary Carano said “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.”
As part of the agreement, Eldorado is poised to get a revenue share from TSG’s applicable offerings and will receive around 1 million common shares at $23.22 per share which amounts to $25 million. TSG will issue an additional $5 million of common shares under certain conditions.
The deal entitles Eldorado to additional common shares after five years, depending on the success of TSG’s online gaming offerings in each applicable state.
TSG Enters NJ And PA Markets
The announcement comes after TSG launched its BetStars online sports betting brand in New Jersey, in partnership with Resorts Casino Hotel. TSG also operates online poker and an online casino in the Garden State via PokerStarsNJ and PokerStarsCasinoNJ.
TSG has also struck a deal with Mount Airy Casino Resort, entering Pennsylvania’s online gaming market.
TSG Continues To Strengthen Market Presence
TSG is one of the world’s leading providers of technology-based product offerings in the interactive entertainment and global gaming industries. The company’s sports betting, online poker and casino brands are used by millions of customers around the world. It owns several gaming brands which include PokerStars, BetStars, Full Tilt, PokerStars Casino, SkyBet, Sky Casino, Sky Bingo, Sky Poker and Sky Vegas among others.
TSG is also behind some of the world’s largest live poker tournament brands such as the PokerStars Players No Limit Hold’em Championship, PokerStars Caribbean Adventure, PokerStars Festival, Asia Pacific Poker Tour, PokerStars MEGASTACK and the European Poker Tour. TSG and its subsidiaries currently hold licenses in 19 jurisdictions all over the world.
Dealing With Challenges
While the new TSG partnership could very well place Eldorado in a strong position for sports betting and online gambling, the states in which it currently operates are still not fully embracing digital wagering options.
An online betting option is not up and running yet in West Virginia while mobile betting is only allowed on-property in Mississippi.
Though it would now be easier for TSG to establish an online presence in all applicable states, the company is likely to face a major stumbling block in Nevada after the state prevented PokerStars from launching online poker operations. There was no mention of sports betting in the prohibition but it is assumed the ban covers all other gambling services.
PokerStars can’t offer online poker in Nevada but its parent company TSG is allowed to offer sports betting as part of the Eldorado deal – a complicated scenario state regulators will have to deal with going forward.

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