Peter Jackson, Group Chief Executive, commented:
“I am pleased to confirm that our business changing merger with The Stars Group will be completed on May 5th. The expanded group combines exceptional brands, products and companies, an extremely talented and experienced team and a diverse global presence. The strength of our combined asset portfolio means that we can look to the future with confidence in these uncertain times.”
The Stars Group and Flutter Entertainment: Use resources available together
The merged company can now share the available resources and benefit from them. The group is to be temporarily divided into five segments:
TSG International – PokerStars with no US activity
PPB Legacy (Paddy Power Betfair, Adjarabet, Paddy Power Retail and B2B)
Sky betting and gaming assets (Sky Bet)
Australia – Sportsbet
U.S. entities – FanDuel Group and TSG U.S. operations including Fox Bet
Four core business areas are planned for next year, which comprises two steps. TSG should first merge with Paddy Power Betfair. Paddy Power will then move to a new unit in the UK and Ireland together with Sky Betting and Gaming.
The organizational adjustments are intended to maintain the dynamism of the company and bring sales and cost advantages. From now on, the merged group will become the world’s leading provider of online betting and games.