In recent news, we’ve learned that Fox Sports and The Stars Group (TSG) are going into a joint business together. That’s right folks, one of the biggest media giant and a huge online gaming company are joining forces. Specifically, they’ll launch a new product by the name of FOX Bet. In essence, for a meagre $236 Million, Fox will get close to a 5% stake in TSG. And naturally, it’s not just a website they’ll launch. But a free-to-play app with real cash prizes too.
New Jersey will lead the way
According to sources, the new Sportsbet platform will go live sometime this fall. In fact, if you’re already a customer at TSG’s BetStars (NJ), you will automatically be a FOX Bet customer when its launches. For now, no official words tell us where else FOX Bet will go live.
However, TSG already has a deal with Eldorado Resorts to offer sports wagering in any state they operate in. Although speculations are not a substitution for facts, it’s fair to say that the new FOX bet will hit the ground running. Plus, combine that with FOX media and sports broadcasting rights, and you have a winner on your hands.
Permanent foothold in the US market
According to TSG’s CEO, Rafi Ashkenazi. The opportunity is unique and will give the group a good foothold in the booming US market. “We believe this strategic partnership uniquely positions us to build a leading betting business in the US. Which represents one of the most exciting long-term growth opportunities for our company.”
Equally excited by the expansion is Eric Shanks, CEO of Fox Sports. “Digital sports wagering represents a growing market opportunity that allows us to diversify our revenue streams. And connect directly with consumers, and expand the reach of the FOX Sports brand.” Now all that’s left to do is to wait for the fruit of The Stars Group and Fox to go live. So, stay tuned for all the updates you need…