Later that same year, the company also tried to secure a merger with UK bookmaker William Hill before calling it off in October 2016. BetStars launched in several markets including Germany, Italy, Denmark, Spain and Portugal.
In 2016, Amaya Inc ( before it was renamed to TSG) launched BetStars, the sports betting brand beside PokerStars. This is not the first time PokerStars is betting on sports betting. PokerStars is poised to inherit this sports betting potential, which will lead to greater revenue diversification for the brand. Currently, the majority of Sky Bet’s revenues are generated by sports betting. PokerStars Expanding Sports Betting OperationsĪccording to Rafi Ashkenazi, TSG’s Chief Executive Officer, one of the biggest operational and financial benefits of the acquisition is the expansion of PokerStars’ sports betting products. Sky Bet’s presence in these markets can further strengthen PokerStars as an international brand. For the most part, PokerStars and other TSG brands have been strongly present in the UK, only recently expanding operations to the German and Italian sports betting markets. Many gaming and financial experts also expects the acquisition to position PokerStars better in the global iGaming landscape. Alun Bowden, a senior consultant for Eilers & Krejcik Gaming, said that the deal will make PokerStars a UK powerhouse beside GVC and Paddy Power Betfair. Skybet, on the other hand has the largest active online player base in the UK, with 80 percent of their revenues coming from mobile device games. They are also expecting at least $70 million a year in cost synergies.Ĭurrently, PokerStars owns 12 percent of the UK gaming market share. Once the acquisition is completed by the third quarter of 2018, it will make PokerStars the world’s biggest publicly listed online gaming company. In a press release April 21, TSG put to bed the speculations and confirmed that they have agreed on a cash and stock transaction valued at $4.7 billion to acquire Sky Bet from CVC Capital Partners and Sky plc.
The Stars Group (TSG) which is the parent company for PokerStars, recent announced that it is pushing through with the acquisition of Sky Betting & Gaming (Sky Bet) in a bid to strengthen its sports betting operations.įor weeks, the Toronto-listed TSG has been speculated to be swooping down on a billion dollar deal to acquire the English Football League sponsor Sky Bet. Monday, April 23rd, 2018 | Written by Renee
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