Flutter Completes £3.8B Gaming Merger On 5 May

Flutter Entertainment, the operator of the Paddy Power Betfair business, has announced that it will finalise its acquisition of and subsequent merger with The Stars Group (TSG) on 5 May 5.

Under a deal announced in October of last year, the mega-merger will see Flutter purchase all of the shares in TSG and join together with the operator to create one of the largest operators in the industry, with annual revenue of £3.8 billion (US$4.7 billion).

Last week, shareholders holding 99.2% of Flutter’s share capital voted in favour of the merger, while TSG shareholders also overwhelmingly backed the deal, with approximately 99.99% of votes cast in support of the proposal.

Flutter confirmed it has also now secured all of the relevant regulatory approvals in order for the deal to go through, with the acquisition set to complete by 8am BST on 5 May 5.

“I am delighted to confirm that our transformational combination with The Stars Group will complete on 5 May; the enlarged group brings together exceptional brands, products and businesses, a hugely talented and experienced team, and a diverse global presence,” Flutter group chief executive Peter Jackson said.

“The strength of our combined portfolio of assets means that we approach the future with confidence in these uncertain times.”

Full Content: iGaming Business

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