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CMA clears Sky Betting takeover by Canadian peer Stars Group

Stars will buy Sky Bet, the firm behind the Sky Vegas and Sky Casino brands, creating the largest publicly-listed online gaming company in the world

Online gambling
The deal is worth around US$4.7bn

The Competition and Markets Authority (CMA) has approved a deal for British-based company Sky Betting to be sold to Canadian firm Stars Group in a deal worth US$4.7bn.

Stars will buy Sky Bet, the firm behind the Sky Vegas and Sky Casino brands, creating the largest publicly-listed online gaming company in the world.

READ: UK gambling firm Sky Betting and Gaming to be sold to Canada's Stars Group

The deal was originally announced in April this year, with Stars buying a controlling stake from major shareholders CVC Capital Partners and Sky PLC (LON:SKY).

At the time, Sky said in a statement that it would receive about £425mln in cash and 7.6mln newly issued shares, or about 3% of Stars Group, worth about £145mln. The broadcaster sold 80% of Sky Bet to CVC in 2015.

The deal followed Stars Group’s acquisition of the Australian arm of William Hill plc (LON:WMH) in March after a failed merger attempt with the FTSE 250 betting firm.

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