The Stars Group announced their purchase of Sky Betting in April. They are in the news again with a new partnership agreement. Stars Group has made several purchases and advancements in the first quarter of 2018. The latest is the partnership they announced May 22, 2018.
International Entertainment Corp signed a deal with the Stars Group. The deal allows PokerStars live events to be hosted across poker rooms in Asia.
PokerStars and the City of Dreams terminated their partnership recently, due to trouble in the Philippines with casino approval. It also seemed like the Chinese Ministry of Culture would interfere with Asian expansion once they announced online poker is no longer allowed, social or otherwise. The effects of the announcement begin on June 1, 2018.
PokerStars has also not wanted to re-enter the US due to the issue with US legal laws. However, Lawrence Ho believes there is a new movement in Asia that will still make it a viable industry. Melco Resorts and Entertainment owner, Ho, told the press that COD live poker with Stars was not profitable, so it is better if they can gain tablespace to use the more profitable table games as a way of increasing revenue.
The Stars Group is the owner of PokerStars, and they decided to partner with International Entertainment Corp, which is a Hong-Kong listed company to get the rights to operate land-based live events under the PokerStars name. Furthermore, the company will be in poker rooms using the Red Spade brand throughout countries that are gambling friendly.
The stock price for the Stars Group increased 14 percent after the announcement of the partnership.
International Entertainment Corp
International Entertainment Corp is a casino, hotel, and entertainment business. They have also signed a deal with the English Football League Championship becoming a significant shareholder in Wigan Athletic.
The premier league team won the 2012 and 2013 FA Cup. They also knocked Manchester City out of the FA Cup. Chairman Dave Whelan decided to leave the club and focus on promoting the Championship after winning the EFL League 1.
Bloom is also a part of the EFL, who tends to enjoy gambling. Bloom has frequently been spotted playing games at International Entertainment Corp locations and won $8 million in live tournaments. He had also gained $6.5 million in a Macau High Roller event in 2012.
Choi is also an advisor to Alex Dreyfus’s project ChiliZ for eSports, so it is no surprise that the leader of International Entertainment Corp is looking for new partnerships.