An arm of the Lac Vieux Desert Band is gearing up to debut online and mobile sports betting and gaming in Michigan, once regulatory licenses are secured.
The Lac Vieux Desert Public Enterprise and Finance Commission has entered into an exclusive agreement with PointsBet Michigan, a subsidiary of PointsBet Holdings. The 20-year agreement will automatically renew for an additional five-year term unless either party provides written notice of its intention not to renew.
The arm of the Lac Vieux Desert Band of Lake Superior Chippewa Indians inked the deal with PointsBet on the heels of Michigan Governor Gretchen Whitmer signing sports betting and online gaming legislation into law on December 20, 2019.
James Williams, Jr., Lac Vieux Desert Tribal Chairman, stated: “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.”
Tax rates for online casino gaming will likely be levied at the 20% to 28% tier, based on revenue. Higher revenues will entail higher rates.
To compliment the online offerings, PointsBet and the Lac Vieux Desert Public Enterprise and Finance Commission are pursuing a retail sportsbook at the Tribe’s brick-and-mortar Northern Waters Casino Resort in Watersmeet, Michigan. To offer retail sportsbooks, Tribal casinos will pay an 8.4% tax to the state.
PointsBet Group CEO Sam Swanell released the statement: “PointsBet is pleased to have reached 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.”