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The Stars Group closes $4.7bn deal with Sky Bet

Publish: 2018-07-12 16:58:14

Leading sportsbook and casino operator, Sky Bet incorporated by the mother company of PokerStars.

With its flagship brand, PokerStars, The Stars Group is the number one online-poker operator, but their well-defined goal has been to become a diversified online gaming operator. Now they've taken a big step forward to achieve this, as they became the biggest publicly listed online gaming company with this acquisition.

With the casino and sportsbook offering, the company now has a near-equal revenue diversification between its services. They bought CrownBet and William Hill Australia earlier this year.

“This acquisition represents a pivotal moment in The Stars Group’s evolution,” stated Rafi Ashkenazi, TSG’s Chief Executive Officer. “SBG’s mobile-focused sportsbook pairs well with our industry-leading poker offering to create two premier customer acquisition channels. We believe this combination along with our combined online casino offerings positions The Stars Group for continued growth in the evolving online gaming industry.”

PokerStars is still the leader in the online poker industry with an $878 million revenue in 2017. PokerStars Casino has also become one of the key players in the online casino business, while BetStars, the company's sportsbook is also getting bigger. The non-poker revenue represented a third of the revenue last year.

Thanks to the acquisition, the company adds Sky Bet, Sky Vegas, Sky Casino, Sky Bingo and Sky Poker to its portfolio which will have a serious result on their revenue distribution: 37% poker, 34% sports and 26% casino - according to TSG's statement from April.

“This transaction creates the world’s largest publicly listed online gaming company and unites two iconic brand portfolios with strong technology platforms and teams. This significant scale also positions The Stars Group to both secure and expand upon its global footprint,” said Ashkenazi.

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(source: pokerindustrypro)

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