- PointsBet will be the chosen sports betting provider of the Lac Vieux Desert Band of Lake Superior Chippewa Indian owned casinos in Michigan.
- Licenses to operate have not yet been given out to casinos in the state as they take a minimum of 60-90 days to be set up after legalization.
- Michigan legalized sports betting in late December, allowing for both retail and internet sports wagering.
DETROIT – PointsBet Sportsbook has signed a 20-year deal with Lac Vieux Desert Public Enterprise and Finance Commission. Lac Vieux is an extension of the Lac Vieux Desert Band of Lake Superior Chippewa Indians. Once the tribe has the proper licenses in place, PointsBet will operate its sports betting services at their casinos.
Governor Gretchen Whitmer made wagering on sporting events legal both through land-based and mobile outlets in late December 2019. Operations could begin as early as three months from the date that the laws were passed.
The Art Of The Deal
The 20-year contract provides a five-year automatic extension to be renewed at the time the partnership would be set to end. It will include a PointsBet mobile sports wagering application for the tribe, as well as casino operated sportsbooks with the PointsBet and Lac Vieux Desert brands advertised.
“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,” said James Williams Jr., the chairman for Lac Vieux Desert. “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.”
Shares of PointsBet went up by 7% upon news of the partnership with LVD. Both partners are currently discussing the potential retail location for the sports betting lounge to be at Northern Waters Casino Resort in Watersmeet, Michigan. This facility is one of the Chippewa Tribe owned locations.
“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,” said Sam Swanell, PointsBet Group CEO.
Within the documents, the sportsbook will have exclusive rights to all clientele information. The deal between the two can be voided at any time if either party decides they want to cease the partnership.
Legal wagering on sports should begin during the first quarter of the year. The state of Michigan is estimated to have sports betting revenue of $19 million annually once it becomes available to residents. Of that money, $5 million will go toward funding the education system statewide.
News tags: Gretchen Whitmer | James Williams Jr | Lac Vieux Desert Band of Lake Superior Chippewa Indians | Lac Vieux Desert Public Enterprise and Finance Commission | Northern Waters Casino Resort | PointsBet | Sam Swanell
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.