The Stars Group Inc., the Canadian based gaming and online gambling company, and FOX Sports, the programming division of the Fox Broadcasting Company, have entered a long-term commercial agreement and announced the plans to launch FOX Bet in the United States. According to the agreement, FOX Sports will provide The Stars Group with an exclusive license to use certain FOX Sports trademarks.
The Stars Group and FOX Sports expect to launch two products this year under the FOX Bet umbrella. One will be a nationwide free-to-play game, awarding cash prizes to players who correctly predict the outcome of sports games. The second product, which will be named FOX Bet, will give customers in states with regulated betting the opportunity to place real money wagers on the outcome of a wide range of sporting events in accordance with the applicable laws and regulations.
“We believe this strategic partnership uniquely positions us to build a leading betting business in the U.S., which represents one of the most exciting long-term growth opportunities for our company. Leveraging our proven media partnership strategy with Sky Sports in the UK, we are excited to partner with FOX Sports to integrate wagering into sports media and drive customer acquisition and retention in the U.S,” Rafi Ashkenazi, CEO of The Stars Group said.
“FOX Sports is already synonymous with the best live sports events in the country and now we are expanding the way we immerse fans in the sports culture they love. Digital sports wagering represents a growing market opportunity that allows us to diversify our revenue streams, connect directly with consumers and expand the reach of the FOX Sports brand,” Eric Shanks, CEO and Executive Producer of FOX Sports said.
