Stars Group Raises $622 Million to Buy SkyBet

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.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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28 June 2018 - 2:56pm
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It might be a good idea for small and medium investors buying a shares from The Stars Group, at least I don't expect to see them drop in value in near future so even I could do a bit of thinking about this.