{"id":4949,"date":"2019-10-03T08:14:14","date_gmt":"2019-10-03T08:14:14","guid":{"rendered":"https:\/\/www.bestonlinecasinosites.com\/news\/?p=4949"},"modified":"2019-10-03T08:14:14","modified_gmt":"2019-10-03T08:14:14","slug":"the-stars-group-to-merge-with-flutter-entertainment","status":"publish","type":"post","link":"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-to-merge-with-flutter-entertainment\/","title":{"rendered":"The Stars Group to Merge with Flutter Entertainment"},"content":{"rendered":"\n

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The Stars Group (TSG) which is best known for its PokerStars brand<\/a>, and Flutter Entertainment (formerly Paddy Power Betfair) have recently announced that they have agreed to a merger<\/a> that will create one of the biggest gambling operations on the planet. The all-share deal between the two companies is reportedly worth more than $10 billion and it is a non-cash transaction that will see Flutter shareholders hold a 54.64 percent stake in the new company. The remaining 45.36 percent stake will be owned by The Stars Group.<\/strong><\/p>\n\n\n\n

Management Plans<\/h2>\n\n\n\n

Once the merger is complete, Peter Jackson,<\/strong> the current Flutter Chief Executive, will be at the helm of the operation while Rafi Ashkenazi<\/strong>, The Stars Group’s current chief executive, will assume the role of Chief Operating Officer (COO). Flutter\u2019s Gary McGann and The Stars Group’s Duvyesh Gadhia will become the new Chairman and Deputy Chairman respectively while Jonathan Hill who is the current Chief Financial Officer of Flutter will retain the same position.<\/strong><\/p>\n\n\n\n

The new company’s name is yet to be announced but it has\nbeen confirmed that it will be headquartered in Dublin, Ireland \u2013 the current\nhome of Flutter. All these changes will come into effect when the merger is complete\neither in the second or third quarter of 2020 \u2013 it will be subject to a shareholder\nvote during the second quarter after which it will be approved in the third quarter.\nThis is, of course, on condition that the regulatory approvals in the five\ndifferent jurisdictions are forthcoming.<\/p>\n\n\n\n

As mentioned earlier, the new company which is likely to continue trading under the Flutter name will be massive, and arguably the largest online sports betting and gambling company in the world. Combined, the customer bases of both companies will add up to a whopping 13 million and this will result in annual revenues of \u00a33.777 billion.<\/strong><\/p>\n\n\n\n

Flutter’s Global Expansion Plans<\/h2>\n\n\n\n

In its bid to extend its footprint across the globe<\/a>, Flutter has come up with a “four-pillar growth strategy”. These apply to its move to merge with The Stars Group and they include:<\/p>\n\n\n\n