£3.4bn Sky Betting & Gaming acquisition completes

£3.4bn Sky Betting & Gaming acquisition completes
Image courtesy of Sky Betting & Gaming

Stars Group has completed its £3.4 billion acquisition of Leeds-based Sky Betting & Gaming (SBG) as the Canadian Group expands its geographic reach.

“This acquisition represents a pivotal moment in The Stars Group’s evolution,” said Stars CEO Rafi Ashkenazi.

“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.”

Ashkenazi added that the transaction creates the “world’s largest publically listed gaming company”.

“This significant scale also positions The Stars Group to both secure and expand upon its global footprint,” he said.

The purchase was made up of a combination of cash and newly issued common shares of The Stars Group.