Stars Group acquire Sky Betting

23 Apr 2018

The Stars Group has been growing at a frantic pace during the past years, by continuously expanding to new markets. This aggressive strategy has become even more intense following their official announced regarding the acquisition of Sky Betting and Gaming for a total amount of 3.36 billion pounds. Of course, Pokerstars remains the leading brand for the Canadian group, but the plans for the newly acquired brand are of equal significane, as the Stars Group CEO, Mr. Rafi Ashkenazi revealed. To be more exact, they intend to reach the stars, not by using light-hearted puns, but by becoming the world’s largest online gaming company.

According to the details of the acquisition, Sky Betting’s 85% of shares were acquired by the Stars Group, while 13% remains on CVC’s possession. Just a few moments after the conclusion of the deal, a satisfied Rafi Ashkenazi, stated: «The acquisition of Sky Betting and Gaming is a landmark moment in The Stars Group’s history».

Sky Betting have netted huge profits over the past years, reporting revenues of 624 million pounds for 2017, with gross profits reaching the amount of 212 million pounds for the same year. It is also noteworthy that during the previous two years (2016 and 2017) Sky Betting reported a rise of 46% and 51% revenues respectively.

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