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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.