The Stars Group Incorporated is now the world’s largest publicly-listed online gaming operator after yesterday saw it complete the previously-announced $4.7 billion deal to purchase British rival Sky Betting and Gaming from CVC Capital Partners and Sky.
According to an official Tuesday press release, The Stars Group Incorporated stated that the acquisition is now set to provide it with ‘multiple expected operational and financial benefits’ including substantially improving its ‘revenue diversity’ across the online casino, poker and sportsbetting verticals ‘with a broad geographic reach.’
The corp was already responsible for virtual brands such as PokerStars and FullTilt when it inked an arrangement in April that saw it agree to shell out around $3.6 billion in cash along with $1.1 billion in new common shares in order to buy Sky Betting and Gaming. The completion of the deal means that the Toronto-headquartered firm, which is moreover the majority shareholder of Australian online sportsbetting operator CrownBet, is now the owner of iGaming sites including SkyPoker.com, SkyVegas.com and SkyCasino.com as well as the odds comparison website at OddsChecker.com.
“This acquisition represents a pivotal moment in The Stars Group Incorporated’s evolution,” read the July 10 statement from the Canadian firm’s Chief Executive Officer, Rafi Ashkenazi. “Sky Betting and Gaming’s mobile-focused sportsbook pairs well with our industry-leading poker offering to create two premier customer acquisition channels. We believe this combination along with our combined online casino offerings positions The Stars Group Incorporated for continued growth in the evolving online gaming industry.”
Previously known as Amaya Incorporated until a 2017 name-change, Toronto-listed, The Stars Group additionally proclaimed that the purchase will now enable it to earn approximately 75% of its overall revenues from ‘locally regulated or taxed markets’ while allowing it ’to cross-sell players across multiple verticals.’
“This transaction creates the world’s largest publicly-listed online gaming company and unites two iconic brand portfolios with strong technology platforms and teams,” read the statement from Ashkenazi. “This significant scale also positions The Stars Group Incorporated to both secure and expand upon its global footprint.”