Penn Sports/Barstool Sportsbook and Casino was also given the go-ahead to launch
Feb. 1.
“We welcome the addition of Odawa Casino, Poker Stars, Fox Bet, and Barstool Casino to Michigan’s growing online gaming and sports wagering market,” MGCB executive director
Richard S. Kalm said in a news release. “Their participation will generate revenue to support education, tribal communities and the city of Detroit.”
What to expect from PokerStars in Michigan
The pace of a poker site going live has been much quicker than seen with
Friday’s announcement means Michigan becomes the
fifth state to offer legal, regulated online poker.
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January 26, 2021, 10:56 am ·
Last Tuesday, the nine casinos and platform providers allowed to launch online sports betting in Michigan were announced. They will start operating following the legalization in state. The 10th operator is also clear after the Michigan Gaming Control Board announced it on Friday.
The operator is Lac Vieux Desert tribe along with its platform provider, PointsBet. The Lac Vieux Desert Band of Lake Superior Chippewa Indians already operate on the Michigan Upper Peninsula’s Northern Water Casino Resort in Watersmeet.
Since the announcement, the list with all 10 providers is now clear. It includes some of the well-known around the gaming community platforms, such as, DraftKings, William Hill, Barstoll Sportsbook, TwinSpires, Golden Nugget Online Gaming, BetMGM, Rush Street, FanDuel and Wynn.
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The Analyst: Goldman Sachs analyst Stephen Grambling upgrades
DraftKings Inc (NASDAQ: DKNG) from Neutral to Buy and raises the price target from $45 to $65.
The analyst reiterates a Buy rating on
Penn National Gaming (NASDAQ: PENN) and raises the price target from $86 to $124.
The Analyst Takeaways: DraftKings and Penn National Gaming are two gaming stocks that have outperformed the S&P 500 in 2021. Grambling said this can continue as the two companies are market leaders in the still-emerging online sports betting industry.
“We upgrade DKNG based on their sustained market leading position in key states, ability to participate in the economics of single operator states, and presence of national contracts which will allow the to achieve scale sooner than the broader peer group,” Grambling wrote in a note.
January 26, 2021, 4:17 pm ·
Bet MGM announced launching BetMGM Casino in Michigan right after the online sports betting went live in the state on January 21.
The new online casino will deliver a wide range of legal online casino games for Michigan’s residents. Some of them include best-in-class online blackjack and roulette games to a host of slots. BetMGM Casino will provide players with various digital games, such as video poker, as well as other casino and slot games.
The app users will also have the chance to participate in slot tournaments, progressive jackpots that are exclusive only for Michigan users and a lot more.