Flutter Entertainment – Stars Group Merger To Form Gambling Powerhouse
Flutter Entertainment is an Ireland-based company known for its gambling related brands. It operates mainly in Ireland and the United Kingdom, but the company also has various operations around the globe. Among the company’s top brands include FanDuel, Sky Bet, and PokerStars.
On the other hand, Stars Group is a Canadian company that focuses mainly on gaming and online gambling operations. Founded in 2001, the company is best known for brands like Full Tilt Poker, BetStars, and PokerStars Casino.
In October 2019, Flutter Entertainment confirms that it is working on the terms and condition for the acquisition of The Stars Group. Flutter makes an acquisition offer of $6.95 billion for the merger. After the acquisition, the two companies formed the world’s largest online gambling company.
With the acquisition, Flutter is adding to its huge gaming and gambling portfolio some of the most recognizable brands in the industry. One brand in particular, Poker Star, is considered as the leader when it comes to online poker cardroom games.
SkyBet is also getting a lot of traction lately in the United Kingdom. Moreover, BetEasy is an Australian betting platform that has seen quite a surge in user activity lately. In the United States, FoxBet is one of the leading platform when it comes to online sports betting.
An exceptional portfolio
In terms of individual user base, both Flutter and Stars Group have gathered an immense following in the online gaming and gambling industry. Flutter has more than 6 million active users, while Stars Group has more than 7 million active users. The merger essentially forms a platform with more than 13 million active users.
In terms of revenue, Flutter reported a revenue of £1.8 billion in 2018. At the same time, Stars Group reported a revenue of £1.9 billion.
In terms of services and products, the two companies have almost every aspect of the industry covered. Both companies have brands in casino, sports betting, exchange, poker, fantasy sports, and free-to-play games.
In a statement following the merger, Flutter Entertainment CEO Peter Jackson said. “I highlighted how the global gaming industry is worth approximately $450 billion and is growing at a pace that still has a long runway of growth ahead of it.”
It appears that both companies have their future ahead of them well planned out. With a strong control of the European market, the companies are setting their target for expansion outside of the base of their operation.
The Stars Group has recently signed a partnership with Eldorado Resorts. The deal includes providing online gaming licenses in 13 states. The company claims that they are also in the process of expanding their operations to other regions, with an emphasis on the strong Asian market.
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