 This will be one of the biggest moves in the gambling world since long time: Flutter Entertainment, formerly Paddy Power Betfair, and The Stars Group, formerly Amaya and formerly PokerStars, have agreed to a merger that will form a insanely big online gambling company valued at more than £10 billion.
The recommended all-share combination sees 0.2253 Flutter Entertainment (Flutter) shares for every one share in The Stars Group (TSG), with Flutter’s shareholders owning approximately 54.64 percent of the new company and The Stars Group 45.36 percent.
After the merger will be completed current Flutter Chief Executive Peter Jackson will be at the top of the company, while reigning TSG chief executive Rafi Ashkenazi will assume the role of Chief Operating Officer. Flutter’s Chief Financial Officer, Jonathan Hill, will continue in the same position, with Flutter’s Gary McGann and TSG’s Duvyesh Gadhia becoming the new company’s Chairman and Deputy Chairman respectively.
The proposed deal will be subject to a shareholder vote in the second quarter of 2020 with the transaction expected to be completed during the third quarter of 2020. If the merger is approved by shareholders and compliant with all necessary legal regulatory approvals, the combination will create a new global leader in sports betting and gaming with insane value of the company of over £10 billion, liked mentioned earlier.
Combining customers from Flutter and TSG gives the combined group a customer base of 13 million, including duplicate accounts, and annual revenue of £3.777 billion. Its EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization), a key indicator for a company’s operating performance, comes in at £1.14 billion, according to the presentation in the investors call.
Six of Flutter biggest brands: Paddy Poker, Betfair, adjarabet, Fanduel, TVG, sportsbet
Six of TSG biggest brands: Sky Bet, Sky Vegas, PokerSTars, Fox Bet, Fox Sports Sueper 6, Bet easy
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This will be one of the biggest moves in the gambling world since long time: Flutter Entertainment, formerly Paddy Power Betfair, and The Stars Group, formerly Amaya and formerly PokerStars, have agreed to a merger that will form a insanely big online gambling company valued at more than £10 billion.
