The Stars Group Inc. (NASDAQ: TSG; TSX: TSGI) has agreed to acquire Sky Betting & Gaming, a British-based gambling company featuring UK’s top online casinos reporting a landmark moment in the industry history resulting in the world’s largest publicly listed online gaming company.
CVC Capital Partners and Sky plc (LSE: SKY) sold the company in a trasaction amounting to $4.7 billion, including $3.6 billion cash and the rest in stock.
The acquisition will provide The Stars Group with soma advantages including increased exposure to sports betting, the world’s largest and fastest growing online gaming segment, an enhanced presence in regulated markets, particularly within the UK, the advancement of sports betting as a second low-cost customer acquisition channel, which will complement its core poker business, and improved products and technology.
Led by Rafi Ashkenazi, CEO, SBG is a provider of tech-based products and services across the global gaming and interactive entertainment sectors.
The company directly or indirectly, including through its Stars Interactive Group division, owns and operates gaming and related consumer businesses and brands, including PokerStars Casino, PokerStars, Full Tilt, BetStars, and the PokerStars Players No Limit Hold’em Championship, PokerStars Caribbean Adventure, European Poker Tour, Latin American Poker Tour, Asia Pacific Poker Tour, PokerStars Festival and PokerStars MEGASTACK live poker tour and event brands.
In addition, through these and other brands, SBG offers non-poker gaming products, including casino and sportsbook in various jurisdictions globally, including in Europe, both within and outside of the EU, in Australia, the Americas, etc.