The Stars Group on Tuesday announced it has completed its acquisition of Sky Betting & Gaming, creating the world’s largest publicly listed online gaming company.
“This acquisition represents a pivotal moment in The Stars Group’s evolution,” stated Rafi Ashkenazi, The Stars Group’s chief executive officer. “SBG’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 for continued growth in the evolving online gaming industry.”
The acquisition now allows The Stars Group to diverse its revenue across poker, casino and sportsbook across the world.
It also increases The Stars Group’s presence in locally regulated or taxed markets to approximately 75 percent of revenue.
The acquisition also enhances the Stars Group’s products by the addition of SBG’s innovative sportsbook and casino offerings and portfolio of popular mobile apps.
“This transaction creates the world’s largest publicly listed online gaming company and unites two iconic brand portfolios with strong technology platforms and teams. This significant scale also positions The Stars Group to both secure and expand upon its global footprint,” concluded Mr. Ashkenazi.
SBG was purchased through a combination of cash and 37.9 million newly-issued common shares of The Stars Group.