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Stars Group to run sports betting in US

Partnership with Fox Sports to launch 'Fox Bet'

The Stars Group has announced a "first-of-its-kind national media and sports wagering partnership in the United States."

Teaming up with Fox Sports, the company has entered a long-term commercial agreement of up to 25 years, and plans to launch two business products this autumn.

One of those will be a free-to-play game across the whole of America, which will see punters predict the outcome of sports games to try and win cash prizes.

The second, Fox Bet, will essentially provide the US with a sportsbook vertical like we see in the UK, facilitating real-money betting on "a wide range of sporting events."

The deal will also see Fox Corporation acquire just under 5% of the total shares in the Stars Group, which is based on King Edward Road overlooking Douglas bay.

CEO Rafi Ashkenazi said: "we believe this strategic partnership uniquely positions us to build a leading betting business in the US, which represents one of the most exciting long-term growth opportunities for our company."

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