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Flutter Entertainment completes £10bn merger with Stars Groups

Flutter Entertainment completes £10bn merger with Stars Groups
The merger was agreed in 2019, when Flutter purchased all of the shares in Stars group and now, in 2020, the deal is completed.
by Academia   |   comments 0

When in 2019, Flutter purchased all of The Stars Group shares and created a combined operation with annual revenue of £3.8bn.

With the deal completed this week, a few months after, Flutter Entertainment, the parent company of Paddy Power Betfair, becomes the largest gambling company in the world by revenue.

Peter Jackson, Flutter’s Chief Executive, stated: “I had a meeting with Rafi [Ashkenazi, Chief Executive of Stars] then and we looked at each other and the conversation turned to ‘I wonder whether we should do a deal’ (…) Even then the industrial logic of doing the deal was pretty clear to me.”

As part of this agreement, the business now includes PokerStars, Sky Betting and Gaming, Full Tilt, Fox Bet and BetEasy.

Mr. Jackson believes the current world situation is not a pushback for this agreement, in fact, he believes it will accelerate a growth in online gambling market.

For the deal to go through, Flutter Entertainment secured all the relevant regulatory approvals, specially in the UK with all the regulators focused in preventing gambling harm in these difficult times.

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