Online gambling operator The Stars Group (TSG) feels confident that its new Fox Sports betting partnership will allow it to crush its rivals in the expanding US legal betting market.
On Thursday, TSG held an analyst call to discuss Wednesday’s surprise announcement of the blockbuster 25-year Fox Bet deal, which will see the broadcaster take a nearly 5% stake in TSG and potentially a 50% stake in TSG’s US-facing betting business over the next decade, in exchange for granting TSG exclusive access to pitch betting opportunities to Fox Sports viewers.
The Fox Bet JV will be overseen by TSG’s chief corporate development officer Robin Chhabra, who called the Fox deal the “ideal springboard” into the expanding US betting market. TSG has also set up an advisory board that will include Ted Moss, former managing director of TSG’s SkyBet brand, and Grand Parade founder Andy Clerkson.
TSG views the Fox deal as a “large and cost-efficient” customer acquisition channel. Chhabra pegged the average Fox Sports viewer not as a ‘hardcore’ bettor but someone looking to “spice up” their viewing with a little action on the side.