{"id":116188,"date":"2019-10-02T08:35:08","date_gmt":"2019-10-02T15:35:08","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=116188"},"modified":"2019-10-02T11:56:27","modified_gmt":"2019-10-02T18:56:27","slug":"proposed-flutter-entertainment-stars-group-merger-would-create-10-billion-mega-operator-but-will-regulators-try-to-block-it","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/proposed-flutter-entertainment-stars-group-merger-would-create-10-billion-mega-operator-but-will-regulators-try-to-block-it\/","title":{"rendered":"Proposed Flutter Entertainment-Stars Group Merger Would Create \u00a310 Billion Mega Operator, But Will Regulators Try to Block It?"},"content":{"rendered":"

A proposed merger between Flutter Entertainment \u2013 until recently Paddy Power Betfair<\/a> \u2013 and PokerStars parent The Stars Group<\/a>\u00a0would create a \u00a310 billion ($12.2 billion) online gambling powerhouse.<\/p>\n

\"Flutter
Flutter Entertainment\u2019s proposed merger with the Stars Group would create the biggest online gambling company in the world by revenue.<\/figcaption><\/figure>\n

The deal was announced Wednesday morning by Flutter CEO Peter Jackson, who would become CEO of the combined company. Stars Group CEO Rafi Ashkenazi would become COO.<\/p>\n

In an all-share deal, Flutter shareholders would own approximately 54.64 percent of the new group, while Stars Group shareholders would hold 45.36 percent.<\/p>\n

The enlarged group would have more than 13 million active customers in over 100 international markets, with annual revenues of \u00a33.8 billion ($4.68 billion) last year, making it the world\u2019s biggest e-gaming company by revenue.<\/p>\n

\u2018Brief Flirtation\u2019 Leads to Serious Commitment <\/strong><\/h2>\n

Jackson told investors Wednesday that the two companies had a \u201cbrief flirtation\u201d last year, but that talks had resumed over the summer.<\/p>\n

\u201cThe combination will turbo-charge our existing four-pillar strategy and provide world-class capabilities across sports betting, gaming, daily fantasy sports and poker, as well as greater geographical and product diversification,\u201d said Jackson.<\/p>\n

\n

The two companies were already among the largest online gambling companies in the world prior to the announcement of the deal, although trailing to competitors GVC and Bet365.<\/p>\n<\/div>\n

Consolidation in the gambling sector has accelerated in recent years. Flutter itself was formed from the 2016 merger of Paddy Power and Betfair, while the Stars Group became a tier one sports betting operator through the acquisition of Sky Betting & Gaming last year.<\/p>\n

Competition Concerns?<\/strong><\/h2>\n

But the deal is sure to face scrutiny from antitrust regulators, particularly in the UK, where it would create an entity with a 40 percent share of the online gambling market. A 25 percent market share is normally enough for the country\u2019s Competition and Markets Authority to launch an investigation.<\/p>\n

Nevertheless, Jackson told investors he was \u201cconfident\u201d the deal will get \u201cthe relevant approvals.\u201d<\/p>\n

He also rejected suggestions that unexplained movements in Flutter\u2019s share prices over the summer \u2013 which included an almost 20 percent surge on July 2<\/a> \u2013 had been sparked by leaked rumors of Stars Group negotiations.<\/p>\n

\u201cWe don\u2019t know what happened that day,\u201d he said. \u201cIt\u2019s still a mystery to us as to what happened. We were not in talks at the time, otherwise we would have had to disclose that to the market.\u201d<\/p>\n

Jackson said the deal would see the group well-positioned to take on the US markets as opportunities expand. Flutter is the owner of FanDuel, while The Stars Group has a relationship with Fox through their jointly-owned sports betting platform, FoxBet<\/p>\n

Earlier this year, Fox invested $236 million for a 4.99 percent share of the Stars Group, with an option to acquire up to 50 percent in ten years\u2019 time.<\/p>\n","protected":false},"excerpt":{"rendered":"

A proposed merger between Flutter Entertainment \u2013 until recently Paddy Power Betfair \u2013 and PokerStars parent The Stars Group\u00a0would create a \u00a310 billion ($12.2 billion) online gambling powerhouse. The deal was announced Wednesday morning by Flutter CEO Peter Jackson, who would become CEO of the combined company. Stars Group CEO Rafi Ashkenazi would become COO. […]<\/p>\n","protected":false},"author":36,"featured_media":116192,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,32093],"tags":[],"acf":[],"yoast_head":"\nProposed Flutter Entertainment-Stars Group Merger Would Create \u00a310 Billion Mega Operator, But Will Regulators Try to Block It? - Casino.org<\/title>\n<meta name=\"description\" content=\"Excerpt % Excerpt\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Proposed Flutter Entertainment-Stars Group Merger Would Create \u00a310 Billion Mega Operator, But Will Regulators Try to Block It? - Casino.org\" \/>\n<meta property=\"og:description\" content=\"Excerpt % Excerpt\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/proposed-flutter-entertainment-stars-group-merger-would-create-10-billion-mega-operator-but-will-regulators-try-to-block-it\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-02T15:35:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-02T18:56:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/10\/FLUTTER.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/proposed-flutter-entertainment-stars-group-merger-would-create-10-billion-mega-operator-but-will-regulators-try-to-block-it\/\",\"url\":\"https:\/\/www.casino.org\/news\/proposed-flutter-entertainment-stars-group-merger-would-create-10-billion-mega-operator-but-will-regulators-try-to-block-it\/\",\"name\":\"Proposed Flutter Entertainment-Stars Group Merger Would Create \u00a310 Billion Mega Operator, But Will Regulators Try to Block It? 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He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. 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