With Eldorado Resorts expanding in Atlantic City, and beyond, a tremendous opportunity presented itself to The Stars Group. In fact, The Stars Group is also looking to expand into the US. So, it seems that the timing is perfect for the two giants to team up!
There’s no doubt about it since Eldorado bought Tropicana, several opportunities opened up. And this is partly because the past deal included 12 properties. Granted that the deal at hand does not include Atlantic city, however since both companies operate in NJ. We thought we’d share the news with you!
Eldorado Stars Deal
Recently, The Stars Group who owns PokerStars Casino in Atlantic City, have inked a deal that will see them quickly grow across America. Indeed, according to a recent press release, The Stars Group will launch an online sportsbook, casino, and poker in 11 Eldorado properties.
For now, the immediate plans are to start in three states where sports betting is allowed. Additionally, they’ll continue to expand as the other eight locations open their doors to online casino and sports betting.
The Stars Group excited about the prospect!
Rafi Ashkenazi, CEO of The Stars Group, wasn’t shy to talk about the deal. In fact, when the news came out, he said. “This new partnership with Eldorado is exciting for us. They’re one of the fastest growing companies in the US. Not to mention, this deal establishes the foundation for our strategy towards expanding in the US.”
In response, Eldorado CEO Gary Carano added. “We’re excited to work with The Stars Group. They’re one of the largest gaming companies in the world. And they have the utmost proven ability to leverage their products in an ever-expanding online gaming market.” So, this deal is official, and there’s definitely going to be much more to come!
The second part of the agreement
All and all, the deal is beneficial for both companies. Indeed, Eldorado will not only get a percentage of the revenue The Stars Group makes in each of those 11 states. But also, Eldorado will profit $25 Million in shares. What’s more is that Eldorado will also get an extra $5 Million in shares upon launching the first site.
So as you can see, this is an enormous deal for both operators. And undoubtedly, this means that Eldorado will, and could have more funds to invest in Atlantic City! After all, The Stars group brand is extremely popular across the states. So they only stand to win with such deal!