PokerStars is committed to sports betting.
The parent company of the online site announced on Saturday Sky Betting & Gaming of the private equity firm CVC Capital Partners and the British media company Sky to take over in a cash and equity business worth $ 4.7 billion. The merger will lead to "the world's largest listed online gaming company," according to Stars Group, formerly known as Amaya Gaming Group.
Amaya bought PokerStars 2014 for $ 4.9 billion.
"The acquisition of  SBG is a milestone in the history of the Stars Group," said Rafi Ashkenazi in a statement. CEO "SBG operates one of the fastest growing sports betting companies in the world and is one of the leading gaming providers in the UK." SBG's premier sports betting product complements our industry-leading poker platform with the ability to create two low-cost acquisition channels The Stars Group offers tremendous growth potential. "
Ashkenazi added that the Stars Group will become" the world's most popular iGaming destination "under the agreement, cost synergies of at least $ 70 million per year
Despite its strong global footprint, PokerStars is licensed in just one US jurisdiction for online betting (New Jersey), and the platform is currently excluded from the online poker liquidity exchange with Nevada. It has no interactive gambling permit from Las Vegas casino regulators In 201
SBG is currently the largest active online player base in the United Kingdom, according to the Stars Group. The UK is the world's largest regulated online gambling market.
The Stars Group will soon be able to rely on poker. According to the press release, Poker's acquisition of SBG could eventually represent about one third of the company's gambling winnings. PokerStars generated $ 877 million in real-money poker games in 2017, up slightly from 2016. Poker revenue was 67 percent of the group's total winnings over the past year, up from 73 percent in 2016.
The company joins The number of online sports betting increased by 27 in the fourth quarter of 2017. The SBG approach should continue to grow.
The press release also states that stars are "fully committed". Debt financing of about $ 7 billion. About $ 3.6 billion of the purchase price will be made available in cash, with the remainder coming from newly issued shares. Part of the financing will be used to repay SBG's debts.
The Stars Group closed 2017 with cash of approximately $ 283 million.
The Group's Board of Directors unanimously approved the transaction. The company expects to close the transaction in the third quarter of 2018.