Stars Group and Fox partnership enter NJ betting market

FOX Bet, the US joint venture between FOX Sports and The Stars Group (TSG), has launched its real money sports betting operation in New Jersey.

Fox Bet has replaced the BetStars brand in the Garden State and will operate alongside PokerStars and PokerStars Casino, which have been retained by The Stars Group. It’s the first time that a US sports media organisation’s brand is serving as the face of a real money sportsbook.

“If you’re a sports fan in New Jersey, FOX Bet is a game changer. FOX Bet combines decades of expertise in content-rich programming and regulated online gaming to drive a superior, integrated and interactive live viewing experience for our customers found nowhere else in the United States,” said FOX Bet CEO Robin Chhabra.

The commercial agreement, which is scheduled to be in place for up to 25 years, sees Fox Sports acquire a 4.99 per cent stake in TSG for circa $236m. Under the terms of the partnership, Fox Sports has also the right to acquire up to 50% equity stake in Stars’ US business up until the 10th anniversary of the commercial agreement.

Fox Bet will offer odds on American football, baseball, hockey, motorsports, golf, tennis and soccer. The company’s app is now available for download on iOS and Android.

After the launch in New Jersey, TSG and Fox Corporation are reportedly also gearing up to launch FOX Bet in the newly opened Pennsylvania market.