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.