“The Stars Group Inc. (NASDAQ: TSG; TSX: TSGI) (“The Stars Group” or “the Company”) announced today that it has agreed to acquire Sky Betting & Gaming (“SBG”) from CVC Capital Partners (“CVC”) and Sky plc (LSE: SKY) (“Sky”) in a cash and stock transaction valued at $4.7 billion. This combination will result in the world’s largest publicly listed online gaming company.”
There have been rumours for a while, but this massive deal was still somewhat unexpected. The Stars Group, with Pokerstars as their main brand, announced the buyout of Skybet and their related brands.
Stars biggest buy
The Sky Betting & Gambling company do have the biggest player database in the United Kingdom. This means that Stars will be able to reach out to a whole new segment of players, mostly sports betting.
“We are delighted to join forces with The Stars Group,” said Richard Flint, Sky Betting & Gaming’s Chief Executive Officer after the deal was announced. Many business experts think that the changed sports betting legislation in the United States were a driving force behind the deal.