TORONTO, July 9, 2019 /CNW/ -- The Stars Group Inc.
(Nasdaq: TSG) (TSX: TSGI) today announced that it entered into an
agreement with the Akwesasne Mohawk Casino Resort for betting and
gaming market access and certain retail sports betting operations
in the State of New York.
The agreement grants The Stars Group an option to operate and
brand real-money online sports betting, poker and casino in
New York on a first skin basis,
subject to license availability, state law and regulatory
approvals. The agreement also provides that The Stars Group will
provide support services for the launch and operation of a retail
sportsbook at the Akwesasne Mohawk Casino Resort in Northern New
York.
"We are excited to announce this agreement with Mohawk, which further strengthens our market
access as we work to build our FOX Bet business into one of the
leaders in the emerging U.S. online betting and gaming market,"
said Robin Chhabra, CEO of FOX Bet,
the new U.S. sports betting brand of The Stars Group.
Todd Papineau, General Manager of
the Akwesasne Mohawk Casino Resort commented, "We are thrilled to
elevate the sports betting experience for our guests in our new
sports lounge, a 5,200 square foot sports betting hub that will be
ready during the NFL season. Once permissible in the state,
we will be prepared to accept sports wagers through our new kiosks.
With its online betting and gaming solutions and FOX Bet and
PokerStars brands, we believe The Stars Group is the ideal partner
for us and it is positioned to become a leader in the U.S. online
betting and gaming industry. We are delighted to work with The
Stars Group, one of the world's largest, most licensed online
gaming companies, to leverage the opportunity presented by online
betting and gaming in the State of New
York."
Under the terms of the agreement, Mohawk will receive a revenue share from the
operation of the applicable online offerings by The Stars Group and
The Stars Group will receive a revenue share from the operation of
the retail sportsbook from Mohawk.
About The Stars Group
The Stars Group is a provider of technology-based product
offerings in the global gaming and interactive entertainment
industries. Its brands have millions of registered customers
globally and collectively are leaders in online and mobile betting,
poker, casino and other gaming-related offerings. The Stars Group
owns or licenses gaming and related consumer businesses and brands,
including PokerStars, PokerStars Casino, BetStars, Full Tilt, FOX
Bet, BetEasy, Sky Bet, Sky Vegas,
Sky Casino, Sky Bingo, Sky Poker,
and Oddschecker, as well as live poker tour and events brands,
including the PokerStars Players No Limit Hold'em Championship,
European Poker Tour, PokerStars Caribbean Adventure, Latin American
Poker Tour, Asia Pacific Poker Tour, PokerStars Festival and
PokerStars MEGASTACK. The Stars Group is one of the world's most
licensed online gaming operators with its subsidiaries collectively
holding licenses or approvals in 21 jurisdictions throughout the
world, including in Europe,
Australia, and the Americas. The
Stars Group's vision is to become the world's favorite iGaming
destination and its mission is to provide its customers with
winning moments.
About The Akwesasne Mohawk Casino Resort
Akwesasne Mohawk Casino Resort is owned by the Saint Regis
Mohawk Tribe of Akwesasne, New
York. The property includes 130,000 square feet of gaming
with more than 1,500 of the newest slot and video poker titles, a
large selection of table games, a poker room and the 650 seat
Mohawk Bingo Palace. AMCR offers a variety of entertainment with
shows and concerts, as well as Live DJ's and bands in Cascades Bar
& Lounge. There are five food venues which include the Native
Harvest Buffet, Maple Room Steakhouse, Sticks Sports Bar &
Grill, Rapids Food Court, and Cedars Coffee featuring
StarbucksTM beverages. In addition, AMCR offers a
150-room hotel which features banquet rooms or meeting space, the
relaxing Sweetgrass Spa, and an indoor pool. AMCR is the premier
resort destination in New York's
North Country.
All revenue generated by AMCR supports the general health,
education and welfare of the Akwesasne
Community of over 16,000 Tribal members.
Cautionary Note Regarding Forward Looking Statements and
Other Information
This news release may contain forward-looking statements and
information within the meaning of applicable securities laws.
Forward-looking statements can, but may not always, be identified
by the use of words such as "anticipate", "plan", "continue",
"estimate", "expect", "may", "will", "intend", "could", "might",
"would", "should", "believe", and similar references to future
periods or the negatives of these words and expressions. These
statements are based on management's current expectations and are
subject to a number of risks, uncertainties, and assumptions.
Examples of these statements include, but are not limited to,
statements regarding the expected benefits to be achieved as a
result of the agreement referenced in this news release, the
passage of applicable legislation related to retail and online
betting and gaming, the inclusion of applicable market access or
skins in any such legislation and The Stars Group's ability to
support, operate or offer retail and online betting or gaming, as
applicable, profitably in these states, or otherwise. There can be
no assurance that actual results will not differ materially from
those expressed or implied in forward-looking statements. Undue
reliance should not be placed on forward-looking statements. Please
refer to The Stars Group's most recent annual information form and
annual and interim financial statements and management's discussion
and analysis for more information about the factors, assumptions
and risks that may apply to The Star's Group's forward-looking
statements. Each forward-looking statement speaks only as of the
date hereof, and The Stars Group undertakes no obligation to
correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
For investor relations and media inquiries, please
contact:
Vaughan Lewis
Senior Vice President, Communications
ir@starsgroup.com
press@starsgroup.com
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SOURCE The Stars Group