Editor’s note: This story has been updated since it was originally published to remove information about a Louisiana sports betting referendum that could be misleading. Daily Report regrets the error.
Casino and online gambling company The Stars Group announced this morning that it has reached a $25 million agreement with Belle of Baton Rouge parent company Eldorado Resorts that will allow it to offer online betting and gaming at Eldorado’s 28 casinos across 11 states.
Aside from Louisiana—where Eldorado also owns casinos in Shreveport and Westlake—the agreement covers casinos in Colorado, Florida, Illinois, Indiana, Iowa, Mississippi, Missouri, Nevada, Ohio, and West Virginia.
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.
Under the terms of the agreement, Eldorado will receive a revenue share from The Stars Group operations, and The Stars Group will issue Eldorado approximately 1 million common shares worth $25 million as well as an additional $5 million in common shares upon The Stars Group’s exercise of the first option and following the satisfaction of certain conditions.
Read the full announcement from The Stars Group.
