Canadian betting giant The Stars Group (formerly Amaya) has announced that they've raised roughly $622 million in a public offering in an attempt to fund their purchase of Sky Betting & Gaming, with shares priced at $38 each.
The company sold a total of 17 million shares, with current shareholders in the company selling off 8 million common shares as well. The sale of the shares will fund the company's purchase of SkyBet, which Stars agreed to buy for $4.7 million. The purchase would add another arrow to the Stars quiver, which also owns PokerStars, Full Tilt, and more.
The deal is still pending regulatory approval and no announcement for completion of the deal is available yet. Casino Listings news will keep following this story and update readers as we learn more.