According to Sportspro Media, Fox TV has reached an acquisition deal with Canadian gaming operator Stars Group, where they will buy a 4.99% stake in the group for $236 million in preparation for the launch of its own sports lottery business in the future.
Under the agreement, Fox Television has the right to acquire a 50 percent stake in the U.S. division of Stars Group within ten years of the agreement going into effect. As for the Stars Group, they have the right to use the Fox TV logo in their product promotions, and their advertisements will also be broadcast on Fox TV's programs.
As planned, Fox TV will launch two betting platforms this fall. One is a free gambling platform for the United States, which will give players cash prizes, while the other is a betting platform called Fox Bet, which will follow the traditional sports lottery platform model and only open to those states that have legalized sports betting.
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