- TSG gains the option to operate online gaming in nine states in which Penn owns or operates land-based casino facilities.
- The 20-year deal includes a revenue sharing provision along with $12.5 million in cash payable to PNG.
- The deal also calls for a revenue share bonus based on net gaming revenue proceeds in 2023.
The Stars Group (TSG) has increased its access within the US market through a partnership with Penn National Gaming (PNG).
The deal, announced last week, provides TSG with the option to operate online gaming in nine states in which Penn owns or operates land-based casino facilities.
Under the terms of the deal, TSG can “own, operate and brand real-money online sports betting, poker and casino offerings” in four states with first-skin access and an additional five states with second-skin access, “subject to license availability, state law, and regulatory approvals,” it was stated in last week’s press release.
The 20-year deal includes a revenue sharing provision along with $12.5 million in cash payable to PNG. The deal also calls for a revenue share bonus based on net gaming revenue proceeds in 2023. An additional market access fee of $5 million can be triggered by certain conditions related to the state of Texas.
