Stars Group Inc. soared to a record high on expectations that its $4.7 billion purchase of Sky Betting & Gaming will turn the online poker giant into a major sports-betting player that could use its European foothold to cross the Atlantic if the U.S. market fully opens.
The Toronto-based operator of PokerStars, which announced the cash-and-stock deal with CVC Capital Partners and Sky Plc on Saturday, is set to win a significant foothold in the U.K. — the largest regulated gaming market. Sky Betting & Gaming, or SBG, is growing rapidly in online casino games and sports at home and recently expanded to Italy and Germany.
If an upcoming Supreme Court decision in the U.S. allows sports betting in more states, it would be the ici…
Read the full article at: https://www.bloomberg.com/news/articles/2018-04-22/stars-group-builds-sports-betting-muscle-with-4-7-billion-deal