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Home / Business / Flutter Entertainment and The Stars Group merge to create the world's largest online betting company

Flutter Entertainment and The Stars Group merge to create the world's largest online betting company



Flutter Entertainment ( PDYPF ) who owns the Irish gaming company Paddy Power, buys The Stars Group ( TSG ) of Canada, owner of the world's largest poker site, PokerStars.

The companies said Wednesday that they had agreed on a merger with all shares to create the world's largest online gaming and gaming company. At Tuesday's closing price, the two companies were worth nearly $ 12 billion, according to Refinitive data.

The total group would have around four million active customers in more than 1

00 international markets, they said in a statement.

In addition to Paddy Power, Flutter owns fantasy sports brand FanDuel and Australia's Sportsbet.

The companies say that the global money market was worth around $ 450 billion in 2018, with online games accounting for about 11%.

"Flutter and TSG are confident that there is still a long runway with growth left for online and mobile gaming," they added.

The total group annual sales would have been £ 3.8 billion ($ 4.7 billion) in 2018. The United States will be a major focus of the new group. Last year, the US Supreme Court paved the way for states to legalize sports betting.

The agreement will result in Flutter shareholders owning around 55% of the total entity, and TSG shareholders owning just over 45%.


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