Interactive
Canada – Stars Group completes Sky Betting & Gaming purchase
By Phil - 11 July 2018
The Stars Group has completed its purchase of Sky Betting & Gaming for US$4.7bn in a move that ‘dramatically improves The Stars Group’s revenue diversity, creating a balanced spread across poker, casino and sportsbook with a broad geographic reach.’
“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.”
This acquisition increases The Stars Group’s presence in locally regulated or taxed markets to approximately 75 per cent of combined revenues. It develops sports betting as a second customer acquisition channel, complementing The Stars Group’s core offerings and creating an opportunity to cross-sell players across multiple verticals. It will also enhance The Stars Group’s products and technology through 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.
