Stars Group shareholders back Flutter merger
Paddy Power owner’s bid to create betting giant clears key hurdle
The newly merged entity will be based in the Republic. Photograph: PA Wire
Flutter and Toronto-based Stars plan on joining forces to create a betting business with more than 10 million customers, according to some estimates.
Stars Group confirmed on Friday that 99.99 per cent of shareholders backed the merger with Flutter on Friday.
Flutter investors already backed the all-share deal in a poll earlier this week.
Those regulators are likely to decide in coming weeks. If they approve the merger, Flutter and Stars Group can complete the transaction.
The Competition and Consumer Protection Commission in the Republic and the equivalent authority in the UK have already said they will allow the deal.
The merged entity will be headquartered in the Republic. Flutter’s chief executive, Peter Jackson, and chief financial officer, Jonathan Hill, will take the same roles at the enlarged group.
Flutter also owns betting exchange, Betfair, Fanduel in the US and Sportsbet in Australia.
The Stars Group owns Skybet, Full Tilt Poker, Poker Stars and several other on-line betting businesses.