UK gambling group Flutter Entertainment plans to merge with Nasdaq- and Toronto-listed The Stars Group Inc (TSG) in an all-share deal that will create one of the world’s largest online betting and gaming operators, the companies said this morning.
Shareholders of Flutter, the parent company of the UK gambling group Paddy Power Betfair, would own approximately 55 percent of the new company, with TSG shareholders owning approximately 45 of the share capital.
The combined group’s annual revenue would have been £3.8bn in 2018, making it the largest online betting and gaming operator globally. The deal values the two companies at approximately £10bn, based on the value of last night’s closing share prices.
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