Sky Betting to be snapped up by Canadian firm in £2.5bn deal

UK-based Sky Betting and Gaming is to be sold to a Canadian company for around £2.5bn (€2.84bn), it has been announced.

The Stars Group Inc - which owns PokerStars - said the deal will make them the largest publicly listed online gaming company in the world.

Sky Betting and Gaming (SBG) is currently in the middle of a multi-million-pound sponsorship deal with the English Football League.

Rafi Ashkenazi, Stars Group's chief executive, said: "The acquisition of Sky Betting and Gaming is a landmark moment in The Stars Group's history.

"SBG operates one of the world's fastest growing sportsbooks and is one of the United Kingdom's leading gaming providers.

"SBG's premier sports betting product is the ideal complement to our industry-leading poker platform.

"The ability to offer two low-cost acquisition channels of this magnitude provides The Stars Group with great growth potential and will significantly increase our ability to create winning moments for our customers."

The deal is expected to be completed later this year.

- PA

KEYWORDS: Sky Betting

 

Most Read in Business

World Markets