PointsBet has secured further US growth after inking an exclusive partnership with Lac Vieux Desert Public Enterprise and Finance Commission, an arm of the Lac Vieux Desert Band of Lake Superior Chippewa Indians.
The agreement, undertaken through the firm’s PointsBet Michigan subsidiary, sees the sovereign, federally recognised Indian tribe provided with online and mobile sports wagering and gaming in the state of Michigan, subject to securing the necessary regulatory licenses.
This latest deal follows Michigan Governor Gretchen Whitmer signing legislation last month to permit sports betting and online gaming in the state. PointsBet and LVD will now work to offer online and mobile sports wagering and gaming services via LVD’s online licenses.
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.”
Furthermore, the two are also in continued exclusive discussions regarding the operation of retail sportsbook operations at the Northern Waters Casino Resort, located on the tribe’s reservation in Watersmeet, Michigan, to complement the online offerings.
The agreement involves PointsBet and LVD partnering to launch digital sports wagering via PointsBet’s mobile app and website platforms pending final regulations and licensure. It also provides for the launch of PointsBet and LVD branded casino operations.
The initial term of the agreement is 20 years and will automatically renew for an additional five-year term unless either party provides written notice of its intention not to proceed. PointsBet will pay to LVD online sportsbook and online gaming market access fees, as well as a portion of the net gaming revenues derived from the online sportsbook and online gaming operations.
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”.