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.
SOURCE The Stars Group
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