PointsBet achieved further US development following the establishment of an exclusive agreement with Lac Vieux Desert Public Enterprise and Finance Commission, an arm of Lake Superior Chippewa Indians’ Lac Vieux Desert Group.
The deal, conducted through the PointsBet Michigan subsidiary of the company, provides for online and mobile sports wagering and gaming to the independent, federally recognised Indian tribe in the state of Michigan, subject to obtaining the necessary regulatory licences.
This latest deal follows last month’s signing legislation by Michigan Governor Gretchen Whitmer to allow sports betting and online gaming in the state. PointsBet and LVD will now operate through LVD’s electronic licences to provide online and mobile sports wagering and gaming services.
James Williams Jr, Lac Vieux Desert Tribal chairman, explained: “The tribe is excited to join forces with PointsBet to further the tribe’s economic development efforts and expand gaming online as allowable under Michigan and Federal law.
“We are confident that this new opportunity will strengthen the tribe’s self-sufficiency and self-determination efforts and provide much needed revenue to continue to expand and enhance tribal governmental services as well as provide jobs for the LVD community.”
In addition, both are also in continuing joint negotiations on the operation of retail sportsbook operations at the Northern Waters Casino Resort, located on the tribe’s reservation in Watersmeet, Michigan, complementing the online offerings.
PointsBet and LVD partnerships are involved in the agreement to launch digital sports wagering through PointsBet’s mobile app and website platforms pending final regulations and licencing. It also provides for the launch of branded casino operations for PointsBet and LVD.
The agreement’s initial term is 20 years and will automatically renew for an additional five-year term unless either party provides a written notice of their intention not to proceed. PointsBet will pay LVD online sportsbook and market access fees for online gaming, as well as a portion of net gaming revenue from online sportsbook and online gaming.
Sam Swanell, PointsBet Group CEO, said of the new link-up: “PointsBet is pleased to have reached [an] agreement for both online sportsbook and online casino operations with such a forward-thinking tribe, and we look forward to many years of great success working together in Michigan”.