..

Stars Group Raises Additional Funds to Take Over Skybet

Written by:
Guest
Published on:
Jun/26/2018

The Stars Group reportedly has raised an additional $750m (£565.3m) to support its original £3.4bn in taking over Skybet (Sky Betting & Gaming). 

The Stars Group announced plans to take over SBG from CVC Capital Partners and Sky in April as part of a cash and stock transaction.

Once finalized, it would be the largest publicly traded online betting firm.

“The acquisition of Sky Betting & Gaming is a landmark moment in The Stars Group’s history,” stated The Stars Group Inc Chief Executive Rafi Ashkenazi.

” SB&G operates one of the world’s fastest growing sportsbooks and is one of the United Kingdom’s leading gaming providers. SB&G’s premier sports betting product is the ideal complement to our industry-leading poker platform. The ability to offer two low-cost acquisition channels of this magnitude provides The Stars Group with great growth potential and will significantly increase our ability to create winning moments for our customers.”

The Stars Group owns the world's largest online poker room, PokerStars.

“We are delighted to join forces with The Stars Group,” stated Richard Flint, Sky Betting & Gaming’s Chief Executive Officer.

“We have had a fantastic last few years and would like to thank CVC and Sky for supporting us in becoming a leading online operator in the UK. This transaction allows us to offer our best-in-class products to a truly global audience. We’re excited about our future together.”

SBG and Sky have developed brands such as Sky Bet, Sky Vegas and Sky Casino, while posting annual revenue of £624m.

- Aaron Goldstein, Gambling911.com

Gambling News

76% of Bets Come in on Jake Paul in Rematch With Tyron Woodley

76% of Bets Come in on Jake Paul in Rematch With Tyron Woodley

Well, the Jake Paul and Tommy Fury fight fever didn’t last too long as the latter has pulled out due to an injury.

Oregon's Mario Cristobal is Leaving Ducks to Coach Miami Hurricanes

Oregon's Mario Cristobal is Leaving Ducks to Coach Miami Hurricanes

BetOnline had Manny Diaz favored to be the next head coach fired in College Football but did not even have time to post odds on his replacement as the Cristobal move came so fast.

2021 Kentucky Derby "Winner" Medina Spirit Dead

Medina Spirit, the horse that won the 2021 Kentucky Derby but was later found to have failed a drug test, has died.

Bowl Lines, CFP and Heisman Odds 2021-22

Bowl Lines, CFP and Heisman Odds 2021-22

SportsBetting.ag released odds for every bowl game, including the CFP semis, on Sunday afternoon. You can find a line for all 41 bowl games, as well as Army vs. Navy, here.

Jake Paul vs. Tyron Woodley Rematch Odds as Fury Set to Pull Out

Tommy Fury will not be fighting YouTuber Jake Paul on December 18.  BetOnline's Dave Mason was the first to release odds on the new fight scheduled for that day, a rematch with Paul a -200 favorite and Tyron Woodley +160 paying $160 for every $100 bet.

Syndicate