Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

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.

View full SKY profile View Profile

Sky Plc Timeline

Related Articles

Mobile users holding phones up
September 05 2018
The mobile advertiser is placing itself at the forefront of the digital revolution as companies and brands increasingly look to the web as the next forefront of advertising
Throne of Glass
April 30 2018
Rowling, Rowling, Rowling ... keep those titles rolling. Mind you, it's not all about Ms Rowling; Sarah J Maas title revenues grew 47% in the first half of the financial year and dieters are gorging on Tom Kerridge's books
September 19 2018
“Cello Health is successfully building its early stage asset development advisory platform for biotech clients, as well as growing its core later stage and post-launch franchise with pharmaceutical clients”

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use