Approval from all parties

Flutter Entertainment’s merger with The Stars Group (TSG) will officially complete on May 5 after both sets of shareholders overwhelmingly approved the deal.

All relevant regulatory approvals have been issued and competition authorities have given their permission for the merger to proceed. This newly formed company will be the largest online gambling business in the world with a valuation of around €12bn ($13bn).?

As a result of these approvals, TSG shareholders will begin to receive their Flutter shares. They will receive 0.2253 Flutter ordinary shares for every common share.?

will be the largest online gambling business in the world with a valuation of around €12bn ($13bn)

These shares will be admitted to listing primarily on the London Stock Exchange. The secondary listing will be on Euronext Dublin. The financial markets in Dublin and London will be open at 8am on May 5.?

Flutter’s plans for the future

Flutter plans to continue with its current operating model, with five key reporting segments being in place.

These segments will comprise TSG International, PPB (Paddy Poker and Betfair), Australian operations (such as Sportsbet), and Sky Betting and Gaming. Finally, FanDuel and all of the TSG operations in the United States will fall under the same segment.

Both brands excited by merger

Speaking about this exciting plan for the future was Flutter CEO Peter Jackson. He said: “The enlarged group brings together exceptional brands, products and businesses, a hugely talented and experienced team, and a diverse global presence.”?

Jackson went on to say that the company can go into the future with confidence despite the current uncertain times. They will also remain committed to delivering best practice for responsible gambling.?

Dave Gadhia, executive chairman of The Stars Group, also commented on the merger in a press release. He said: “With the overwhelming approval of our shareholders last week and receipt of all remaining regulatory approvals, we look forward to completing our combination with Flutter next week.”

Plenty has changed since original announcement

This multibillion-dollar merger was first announced in October 2019. The all-cash deal will see Flutter shareholders hold approximately 54.64% of the newly combined company. The company’s headquarters will be in Dublin, Ireland.?

Flutter shareholders hold approximately 54.64% of the newly combined company

A lot has changed in the world since this deal was announced. The ongoing coronavirus pandemic has wreaked havoc across the casino and sports betting industry. Many companies have been furloughing employees, cutting dividends, and issuing profit warnings.?

While Flutter has had to take some of these actions, TSG actually posted record revenues for the first quarter of 2020. Its online poker and casino offerings have been booming. The pandemic has not stopped this merger from being completed on schedule.