Stars Group to buy Sky Bet for $4.7 billion

The PokerStars parent will take a massive stride into the sports betting industry with the UK gaming company and sponsor of English football.

Sky Bet
Sky Bet sponsors the English Football League

A huge and largely unexpected major acquisition was announced over the weekend as Stars Group has agreed to buy Sky Betting and Gaming for $4.7 billion. 

This is a massive move for the PokerStars owner as they continue to expand into other areas of gaming. Sky Betting and Gaming owns Sky Bet, one of the largest sports betting companies in the UK and the current sponsor of the English Football League

The deal includes purchasing a 20% stake in the company from media giant Sky PLC, who among other things broadcast English football in the UK. 

The acquisition includes the purchase of a number of Sky Betting and Gaming brands including Sky Vegas, Sky Casino, Oddschecker, Sporting Life and perhaps most notably for poker fans, Sky Poker. 

Sky Poker is a relatively small UK poker brand with a loyal following and most of its customer aquisition has come from first a channel on Sky TV, then a regularly weekly show on Sky Sports when that channel was discontinued. They also have a live tournament series, the Sky Poker Tour.  

From a poker perspective it will be interesting to see what changes are made to Sky Poker under the wing of the market leader, but this deal is clearly primarily about establishing the Stars Group as a powerhouse in sports betting. 

“The acquisition of Sky Betting & Gaming is a landmark moment in The Stars Group’s history,” stated Rafi Ashkenazi, the Company’s Chief Executive Officer. “SBG operates one of the world’s fastest growing sportsbooks and is one of the United Kingdom’s leading gaming providers. SBG’s premier sports betting product is the ideal complement to our industry-leading poker platform. The ability to offer two low-cost acquisition channels of this magnitude provides The Stars Group with great growth potential and will significantly increase our ability to create winning moments for our customers.”

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Comments (4)

newest first
  • com33h

    #1

    Congrulations
  • CucumbaMan

    #2

    Expanding the business, and seems to focus more on other areas.
  • GrindingNajra

    #3

    Ohh No!!...not more Stars....please stop playing on PS....please good software but the rest is bull shit.
  • pokerboy198229

    #4

    Nice one for Stars, they do expand, nice software and a lot of game choices, you dont have to specialize.