{"id":134670,"date":"2020-05-01T13:15:59","date_gmt":"2020-05-01T20:15:59","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=134670"},"modified":"2021-07-19T02:20:26","modified_gmt":"2021-07-19T09:20:26","slug":"12-3-billion-flutter-stars-group-merger-to-complete-may-5","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/12-3-billion-flutter-stars-group-merger-to-complete-may-5\/","title":{"rendered":"$12.2 Billion Flutter-Stars Group Mega-Merger to Complete May 5, Creating World\u2019s Biggest Online Gaming Group"},"content":{"rendered":"

Flutter Entertainment\u2019s shares spiked Thursday as the company announced its $12.2 billion merger<\/a> with The Stars Group (TSG) would complete May 5, creating the biggest online gaming company in the world.<\/p>\n

\"Flutter
The Flutter Entertainment and Stars Group deal has cleared all remaining hurdles and heads into the final straight. (Image: The Times)<\/figcaption><\/figure>\n

The enlarged group would have generated combined revenues of around $4 billion in 2019, with\u00a013 million active customers in more than 100 international markets.<\/p>\n

It will begin trading in London and Dublin on May 5.<\/p>\n

Flutter said the deal received final backing from antitrust authorities in numerous jurisdictions around the world. Last week, shareholders of both parties voted by over 99 percent \u2013 TSG’s by 99.9 percent — to approve the tie-up, which will see Paddy Power parent Flutter acquire all issued and outstanding common shares of TSG.<\/p>\n

Flutter shareholders will own around 54.64 percent of the new business and TSG investors the remaining 45.36 percent.<\/p>\n

Flutter is the parent company of leading online gaming brands in Europe, Australia and the US, including PaddyPower, Betfair, Adjarbet, FanDuel, TGV, and Sportsbet.<\/p>\n

TSG owns the world\u2019s biggest online poker site, PokerStars, as well as major UK-facing online sports betting operation Sky Betting and Gaming (SBG), and the fledgling, Fox Sports-backed US betting platform FoxBet, among others.<\/p>\n

\u2018Federal Operation\u2019<\/strong><\/h2>\n

\u201cThe enlarged group brings together exceptional brands, products and businesses, a hugely talented and experienced team, and a diverse global presence,\u201d said\u00a0Flutter CEO Peter Jackson, who will also become CEO of the combined company.<\/p>\n

\u201cThe strength of our combined portfolio of assets means that we approach the future with confidence in these uncertain times,\u201d he added.<\/p>\n

Jackson said the enlarged group would continue to function under its \u201cfederal operating model,\u201d which offers a degree of regional independence to its business segments.<\/p>\n

\n

All US operations, which include FanDuel and TSG, will be merged into one reporting unit, while TSG\u2019s international business will form another separate unit.<\/p>\n<\/div>\n

Three more, Paddy Power Betfair, SBG, and Sportsbet, will continue as distinct reporting entities in the short term.<\/p>\n

In the longer term, Flutter will merge TSG\u2019s international operations with Paddy Power Betfair and SBG to form a new UK and Ireland division, the company said.<\/p>\n

Fair Competition <\/strong><\/h2>\n

This deal was not always a sure bet. There were concerns that the proposed merger would fall foul of antitrust authorities, particularly in the UK where the combined group will hold a 40 percent share of the sports betting market.<\/p>\n

But the deal vaulted that particular hurdle<\/a> late last month when the UK\u2019s Competitions and Markets Authority decided there was enough choice for the consumer and the tie-up would not \u201cworsen the offering to people who choose to bet online.\u201d<\/p>\n

This week, Moody\u2019s analysts predicted further consolidation within the gambling<\/a> industry as companies seek greater scale to help\u00a0absorb the financial shock of the coronavirus crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Flutter Entertainment\u2019s shares spiked Thursday as the company announced its $12.2 billion merger with The Stars Group (TSG) would complete May 5, creating the biggest online gaming company in the world. The enlarged group would have generated combined revenues of around $4 billion in 2019, with\u00a013 million active customers in more than 100 international markets. […]<\/p>\n","protected":false},"author":36,"featured_media":134671,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19,32093],"tags":[],"acf":[],"yoast_head":"\n$12.3 Billion Flutter-Stars Group Merger to Complete May 5<\/title>\n<meta name=\"description\" content=\"Flutter Entertainment and Stars Group merger will complete next week. 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Paddy Power, Betfair, FanDuel, PokerStars and FoxBet will be under one roof.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/12-3-billion-flutter-stars-group-merger-to-complete-may-5\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-01T20:15:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-19T09:20:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/PP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/12-3-billion-flutter-stars-group-merger-to-complete-may-5\/\",\"url\":\"https:\/\/www.casino.org\/news\/12-3-billion-flutter-stars-group-merger-to-complete-may-5\/\",\"name\":\"$12.3 Billion Flutter-Stars Group Merger to Complete May 5\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/12-3-billion-flutter-stars-group-merger-to-complete-may-5\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/12-3-billion-flutter-stars-group-merger-to-complete-may-5\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/PP.jpg\",\"datePublished\":\"2020-05-01T20:15:59+00:00\",\"dateModified\":\"2021-07-19T09:20:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Flutter Entertainment and Stars Group merger will complete next week. 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