Flutter Entertainment has confirmed its merger with The Stars Group will become official on Tuesday, May 5, to form the most valuable gaming company in the world.
It was announced in October that Flutter—the group in control of such sportsbook giants as Betfair, Paddy Power and FanDuel—will purchase all shares in The Stars Group.
Flutter’s chief executive, Peter Jackson, published a statement announcing the deal will go through this week (via iGamingBusiness.com):
“I am delighted to confirm that our transformational combination with The Stars Group will complete on 5 May; the enlarged group brings together exceptional brands, products and businesses, a hugely talented and experienced team, and a diverse global presence.
“The strength of our combined portfolio of assets means that we approach the future with confidence in these uncertain times.
“Both businesses have a strong legacy of leadership when it comes to responsible gambling. As a combination, we are determined to deliver on our commitment to drive a race to the top when it comes to responsible gambling best practice across the sector.”
With an estimated combined worth of $4.7 billion, this would make the newly merged company the biggest of its kind, per Jim Tomlin of Gambling.com.
The Stars Group operate largely in the card and casino sector and is the parent company of PokerStars, Full Tilt Poker and Sky Betting & Gaming.