Did you know you can earn CLchips to spend in our shop just by posting in our forums?

UK CMA Okays Stars Group Purchase of Sky Betting & Gaming

12 October 2018 by Therese Williams

This story was published more than 4 years ago.

On Thursday the UK Competition and Markets Authority gave the purchase of Sky Betting & Gaming by The Stars Group the okay to be completed, clearing the way for the takeover to be completed.

The Stars Group agreed to purchase Sky Bet in April for $4.7 billion, bringing a huge casino and sportsbetting product line to TSG's platform, which also includes Full Tilt and PokerStars. The purchase was completed in July, but integration was delayed as the CMA investigated whether or not the purchase would be a good thing for customers, as the conglomeration was so large.

In the wake of the go-ahead, The Stars Group began shifting management to new positions, with SBG CEO Richard Flint becoming the Executive Chairman, while CFO Ian Proctor will become CEO.

The new business structure will take off soon, and it's likely we'll see the financial impact relayed in the Stars Group's next trading update.

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
1 reply • Last post

Comments

bgsharpe
Forum AngelForum Angel
sharpe's picture ▼
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 7642
Thanks given: 4239
Thanks received: 1164
19 October 2018 - 2:53pm
#1

Certainly that had been a monstrous deal and Sky Betting & Gaming is just the latest of The Stars Group acquisitions of some of the top brands in the industry.
That company having a humongous size now and to be honest we don't see their enlargement being slowed down any time soon.