Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, August 01 2019 - 14:44
AsiaNet
The Stars Group and Penn National Gaming Enter Agreement for Online Betting and Gaming Market Access
TORONTO, Aug 1, 2019 /PRNewswire-AsiaNet/ --

The Stars Group Inc. (Nasdaq: TSG) (TSX: TSGI) today announced that it entered 
into an agreement with Penn National Gaming (Nasdaq: PENN) that grants it 
options to operate online betting and gaming in states where Penn currently 
owns or operates casino properties. The agreement covers nine states, which, 
when combined with The Stars Group's existing market access deals, gives The 
Stars Group access in up to 20 states. Unless otherwise noted, all dollar ($) 
amounts are in U.S. dollars.

The agreement grants The Stars Group the option to own, operate and brand 
real-money online sports betting, poker and casino offerings in each of the 
applicable states subject to license availability, state law and regulatory 
approvals. As it relates to sports betting, The Stars Group's options currently 
provide first skin access in Illinois, Indiana, Ohio and Texas, and second skin 
access in Kansas, New Mexico, Maine, Massachusetts and Michigan.

"We are excited to announce this agreement with Penn, a respected leader in the 
gaming and racing industry in the United States," said Rafi Ashkenazi, Chief 
Executive Officer of The Stars Group. "This agreement further extends our 
market access platform, as we work to establish our FOX Bet business as one of 
the leaders in the emerging U.S. online betting and gaming market."

Timothy J. Wilmott, Chief Executive Officer of Penn commented, "The Stars Group 
is one of the world's largest publicly listed online gaming companies. Its 
agreement with FOX Sports positions it to become a leader in the U.S. industry, 
and we are excited to work with The Stars Group to capitalize on its proven 
ability to leverage its products to gain share in the growing market for online 
gaming."

Under the terms of the agreement, Penn will receive a revenue share from the 
operation of the applicable offerings by The Stars Group, an up-front cash 
payment of $12.5 million, and potential additional cash payments upon and 
following The Stars Group's exercise of each option. 

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 Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in gaming and 
racing facilities and video gaming terminal operations with a focus on slot 
machine entertainment. The company operates 41 facilities in 19 jurisdictions. 
In total, Penn National Gaming's facilities feature approximately 50,500 gaming 
machines, 1,300 table games and 8,800 hotel rooms. The company also offers 
social online gaming through its Penn Interactive Ventures division and has 
leading customer loyalty programs with over five million active customers.

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 market access agreement referenced in this news release, the 
passage of applicable legislation related to online betting and gaming, the 
inclusion of applicable market access or skins in any such legislation and The 
Stars Group's ability to operate online betting or gaming 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 Stars 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