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Gambling News PokerStars | Flutter Entertainment Attempts to Acquire Stars Group

2020-06-28
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Gambling News PokerStars: Flutter Entertainment owns three companies, including Paddy Power, Betfair and FanDuel, and is currently trying to acquire Stars Group for a $6 billion share exchange. This will give Flutter a 54% controlling stake in the combined company.
 
The transaction requires the approval of the shareholders of the two companies, which will create a global online gambling giant worth nearly $12 billion.
 
Both companies hope to obtain shareholders' approval in the second quarter of 2020 to operate the acquisition. The acquisition may be completed around mid-2020, but the specific time depends on the approval of multiple market regulators.
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The deal involves multiple major brands, and online poker is only a small part of the combined company's business scope. More importantly, this transaction will affect the growing legal sports betting market in the United States.
 
Fox Sports has jointly launched FOXBet (Fox Gaming) with Stars Group, which enables this media company to have a certain share in the sports betting market. As part of the acquisition, Fox Sports will also have the right to acquire 18.5% of the shares of fandiques by market value in 2021. FanDule has become a leader in early American sports betting, successfully launching live and online sports betting projects in New Jersey, Pennsylvania, West Virginia and New York.
 
According to Peter Jackson, the CEO of Flutter, the combined company will provide gaming services to approximately 4 million customers in 100 markets. Jackson emphasized that this transaction will help his company to use the FOXBet and FanDuel brands to further penetrate the US sports betting market.
 
Gambling News PokerStars: Jackson said in a statement: "We are committed to these two high-end brands to promote the expansion of the combined company in the US market." "This combination will provide power for our existing four pillar strategies in sports Gaming, games, daily fantasy sports and poker provide world-class influence."
 
In 2018, the total revenue of Stars Group and Flutter Entertainment was 3.8 billion pounds ($4.67 billion), which would make it the world's largest online gaming operator. In addition, the two companies are expected to save a lot of costs after the merger, a statement said it would save 140 million pounds ($172 million) per year.
 
PokerStars is already part of the largest online gaming industry acquisition in history. As early as 2014, Rational Group (the parent company of pokerstars and full-speed poker at that time) was acquired by Amaya Group at a huge price of 4.9 billion US dollars, becoming the world's largest publicly listed online gaming company at the time. In 2017, Amaya changed its name to Stars Group.