DUBLIN, Ireland: Flutter Entertainment plc, formerly Paddy Power Betfair, and The Stars Group (TSG), parent company of PokerStars, announced Wednesday agreement on the terms of a recommended all-share combination to be implemented through an acquisition of TSG by Flutter.
The merger, aimed at taking advantage of opportunities in the US after the Supreme Court legalized sports betting, will create a behemoth in the online gambling industry, valued at £10 billion ($12.3 billion) and which generates some £4 billion in annual revenue, the companies announced Wednesday.
