The Stars Group has inked a deal with the Little Traverse Bay Bands of Odawa Indians Gaming Authority (“Odawa”) as it is eyeing the newly regulated online gambling and sports betting market in Michigan.
Recently, Michigan became the 20th state to legalize sports betting. The state also legalized online gambling. The partnership with the tribal casino operator Odawa Indians will allow the Stars Group access to Michigan’s newly regulated sports betting and online gambling market.
In a statement to the press, the Stars Group said that the agreement will grant its first skin market access to operate and brand real-money online betting, poker and casino in Michigan, subject to license availability, state law, and regulatory approvals.
“We are excited to announce this agreement with the Odawa tribe, which further strengthens our market access as we work to continue to build our FOX Bet business into one of the leaders in the emerging U.S. online betting and gaming market,” said Robin Chhabra, Chief Executive Officer, FOX Bet.
“The Tribe’s partnership with The Stars Group extends beyond our reservation and places the thrill of world-class sports betting and online gaming under every finger-tip sliding across a touch screen in the State of Michigan,” said Fred Harrington Jr., Tribal Council, LTBB Odawa.
According to the deal with the tribal gambling operator, Odawa will also get a revenue share from the online gambling and sports betting operations in the state.
Michigan legalized sports gambling in December. The state’s Department of Treasury expects to raise about $19 million in additional revenue by legalizing sports betting and online gambling.
The state also expects to generate additional funds to support the state’s School Aid Fund and education programs. With legalized sports betting and online gambling the state would generate an additional $4.8 million for the School Aid Fund, and education programs.