Industry News

Breaking News: Flutter Entertainment to buy Stars Group

Published

6 years ago

October 2, 2019

George Miller

Breaking News: Flutter Entertainment to buy Stars Group

Reading Time: < 1 minute

Bookmaking business, Flutter Entertainment (formerly known as Paddy Power Betfair) is merging with Nasdaq listed Stars Group in an all-share deal that will create one of the world’s biggest online betting group.

Following the merger, shareholders of Flutter, would own approximately 54.64% of the new company, with TSG Shareholders owning approximately 45.36% of the share capital.

The merger is expected to deliver substantial value creation for shareholders from pre-tax cost synergies of 140 million pounds per annum, along with potential revenue cross-sell in international markets and lower finance costs, they said.

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George Miller

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.