The Stars Group Inc. made an announcement that it had agreed to acquire Sky Betting & Gaming from CVC Capital Partners and Sky plc for $4.7 billion.
This came as a shocker to the gaming enthusiasts and the industry at large as the combination would result in the world’s largest gaming company publicly listed.
According to Rafi Ashkenazi, The Stars Group CEO, the acquisition of Sky Betting & Gaming was a landmark moment for the company’s history. It is important to understand that Sky Betting & Gaming is UK’s leading gaming provider and the world’s fastest growing sportsbooks. Its premier sports betting product is somewhat the pillar to our industry-leading poker platform. The Stars Group will now enjoy a great growth potential considering that it will now have the ability to offer two low-cost acquisition chances of this magnitude. So the CEO said that “this will significantly increase our ability to create winning moments for our customers.”
According to Mr. Ashkenazi, this transaction means that the Stars Group will not only enjoy a significantly enhanced scale, but it will also have a highly-regarded global brand portfolio. He added, “we are well positioned to realize our vision of becoming the world’s favorite Gaming destination.”
This acquisition is remarkable as it will provide The Star Group with multiple operational and financial benefits.
Here is what is up for grabs from this deal:
Enhanced exposure to sports betting and greater revenue diversification. Betting is the world’s largest and fastest growing online gaming segment. It is important to understand that the majority of SBG’s revenue comes from sports betting.
With the UK market being the world’s largest regulated online gaming market means the increased presence in this market.
The addition of Sky Betting & Gaming innovative casino and sportsbook offerings will improve products and technology.
What is Sky Betting & Gaming?
Sky Betting & Gaming as we speak is UK’s largest active online player base. It also happens to be the leading mobile betting and gaming operator considering over 80% of revenues generated from mobile devices.
Sky Betting & Gaming has partnered with Sky, Europe’s leading broadcaster and media company to develop online gaming’s most well-known sites like Sky Vegas, Sky Casino, and Sky Bet.
The company’s unaudited annual revenue was £624 million and £202 million of unaudited adjusted EBITDA within a period of 12 months that ended on December 31, 2017.
The $4.7 Billion Purchase
The Star Group Inc. is the owner of BetStars, PokerStars, and Full Tilt brands. The group is also thinking of posing a secondary offering of 6 million shares. The price and the total size of this will be determined after an underwriting agreement.
The acting joint book-running managers and representatives of the underwriters are JPMorgan, Morgan Stanley and Deutsche Bank securities.
The Star Group’s mission is to use net proceeds from treasury offering with cash on hand and debt financing, to fund the acquisition. But there are conditions to this acquisition like the listing of the treasury common shares on the Stock Exchange and the Nasdaq and the approval of the Stock Exchange.
The securities regulatory authorities have already received Preliminary Supplement in each of the provinces and territories in Canada and the Securities and Exchange Commission in the US.
It is important to note that the Stars Group stock rose up by 70% since January. It was able to hit an all-time high of C$50 in June before it dropped just under that mark on 15th of June. The company has high hopes in this purchase as it expects to profit from legal sports betting in the US following May’s ruling by the Supreme Court.
The company also reported a 23% year-on-year increase in its revenues in the first quarter of 2018. The purchase is believed to be a stepping stone for the company to continue providing technology-based product offerings in the interactive entertainment industries and global gaming. Sky Group also owns brands such as the European Poker Tour, Latin American Poker Tour, PokerStars Caribbean Adventure, PokerStars Festival, Asia Pacific Poker Tour and many more. So it goes without saying that the combination opens a new and exciting chapter for Sky Betting & Gaming to accelerate the international growth.
TAPPX CELEBRATES 9TH BIRTHDAY AND LAUNCHES TECHSOULOGY
Tappx, a leading global AdTech company, proudly announces the launch of Techsoulogy, a new corporate brand that unifies a broad portfolio of companies powering solutions for digital advertising, video content, mobile apps and video gaming across mobile, desktop, and CTV platforms.
The launch of Techsoulogy coincides with the 9th birthday of Tappx, which has grown rapidly since 2013 to reach 70 staff, and is forecast to surpass EUR 20 million of revenue this year. Tappx will now become part of the Techsoulogy brand while retaining its own name and unique position in the market. This is a major milestone in the company’s story, providing coherence of branding and messaging to a set of companies that have been launched or acquired by Tappx in recent years, with a total headcount approaching 100.
Alongside Tappx, Techsoulogy will be the corporate brand for four other companies focused on multiple complementary media and entertainment verticals including video generation and monetization, contextual advertising, and mobile game development. Each has been brought under the coherent messaging architecture and visual brand identity, with their own subtle twists. The Techsoulogy brand identity was defined with the help of Collaborabrands, and brought to life with words from Fernando Beltrán, visuals from Comuniza, and digital ecosystem development from Branng. Future brands entering the group will also be part of the consistent identity.
Daniel Reina, CEO at Techsoulogy and the founder of Tappx, commented:
“We believe this new brand architecture is an ideal model for our diverse companies, providing a common thread between them and creating a framework for us to keep growing and moving into new product categories. Tappx has been the engine behind this expansion, consistently growing in revenue and headcount even through challenging economic conditions, but it’s time for it to be part of something bigger.
“This includes not being afraid to talk about our vision for how technology and humanity will interact. How can we contribute human intelligence to artificial intelligence, and what qualifies us to have our say? As Tappx, we pioneered various initiatives to create a safer, more accessible, and more transparent digital environment at the expense of short-term profit: to help publishers adopt IAB standards; select only trustworthy, direct owned and operated traffic; and enable contextual advertising that improves user experience while protecting privacy. As Techsoulogy, we will do far more.”
Fernando Saiz Camarero, CMO at Techsoulogy, added:
“This has been an extensive project that began in mid-2021 when we asked our customers and partners what they value about us. We discovered that alongside our advanced technology, we’re best known for the quality of our people, ways of working, and culture. The team is our most powerful asset, and so we came up with the name Techsoulogy to encapsulate themes of technology, humanity and knowledge. As Techsoulogy, we will constantly explore, learn and improve to achieve more together than we ever could apart.”
Tappx recorded 97% revenue growth between 2020 and 2021 and is set to grow markedly again this year, with forecasts indicating revenue of at least EUR 20 million in 2022.
Golden Palace Group Buys Noirétable Casino
Belgian casino group Golden Palace has bought the casino in the French town of Noirétable in Loire, adding to its previous acquisition of the Boulogne casino in Pas-de-Calais back in 2019.
Established in 2005 in a village of 1800 inhabitants, where it houses a Black Jack table, a Boule table, 72 slot machines offering minimum bets ranging from 1 cent to 1 euro, eight electronic English roulette stations, as well as a multitude of festive events, the casino is a real institution. Proof of the dynamism of the establishment and the loyalty of its customers, the casino, which until then belonged to the Raineau group, crossed the symbolic bar of one million visitors in 2019.
The casino also has a restaurant area with La Brasserie and a bar available to players. Outside, L’Annex, quieter and accessible to all, also offers a relaxing break. In addition to the games area, the Noirétable casino has three reception rooms, including one with a capacity of 400 people, which can accommodate private and corporate events.
Under the impetus of the Golden Palace group, the Noirétable casino will benefit from an investment of €800,000 devoted to the renewal of slot machines, gaming tables and the renovation of the building.
The teams previously in place within the establishment, around thirty people, will continue their mission of animation and entertainment under the Golden Palace banner.
“We are very pleased with this acquisition. This is a real opportunity for our group, and we are delighted to be able to take over the operation of the Noirétable casino, a major employer in the region, with the team in place, in a spirit of entrepreneurial dynamism,” Massimo Menegalli, CEO of Golden Palace group, said.
New EGBA Report: Personalised Safer Gambling Communication Sees Massive Growth in 2021
The European Gaming and Betting Association (EGBA) has published its annual Sustainability Report 2021/2022.
The report focuses on the progress made by EGBA and its members in promoting and creating a safer and more sustainable gambling environment. According to the report, there is an increase of 700% in the number of personalised and targeted safer gambling communications that the EGBA members have sent to their customers in 2021.
In this year’s edition, the CEOs of EGBA member companies express their commitment to promote sustainable gambling and outline their joint efforts to invest in a strong culture of safer gambling.
The report aims to take stock of and track yearly progress, support transparency and reinforce a strong culture of safer gambling and social responsibility. Included in the report are EGBA’s key sustainability highlights from the past year and data points from its members related to customer service topics, the use of safer gambling tools, the promotion of safer gambling, social contributions, support for European sport, as well as a section dedicated to social responsibility initiatives.
Key data highlights from EGBA members:
- There was a significant increase in the number of safer gambling communications sent to customers, with 38 million communications sent – a 123% yearly increase.
- Personalised and targeted communications accounted for 66% of all the safer gambling communications sent to customers, with 22.5 million personalised communications sent – a 700% yearly increase.
- There were 15.5 million generic communications sent to customers to promote safer gambling – a 9% yearly increase.
- The number of customers using at least one safer gambling tool, either mandatorily or voluntarily, increased to 14.9 million, or 50% of customers.
- Voluntary contributions to various European sports, through sponsorships and sports streaming rights payments, totalled €499 million – a 22% yearly increase.
Maarten Haijer, Secretary General of EGBA, said: “We’re pleased to see that our members are communicating more than ever to their customers about safer gambling and, importantly, in a significantly more personalised and targeted way. This is all part of their efforts to promote sustainability and a strong culture of safer gambling. Meaningful progress has been made, and it is pleasing to see our members reinforcing their efforts by funding more research, introducing innovative new strategies, and investing in the latest tools and technologies to promote safer gambling. The personal commitment of the CEOs to achieve this progress is vital and shows that our members take our collective sustainability drive seriously.”
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