{"id":29600,"date":"2019-10-02T16:06:49","date_gmt":"2019-10-02T16:06:49","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=29600"},"modified":"2019-10-02T19:00:18","modified_gmt":"2019-10-02T19:00:18","slug":"what-does-the-new-flutter-stars-group-deal-mean-for-pa-gambling","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/what-does-the-new-flutter-stars-group-deal-mean-for-pa-gambling\/","title":{"rendered":"What Does The New Flutter\/Stars Group Deal Mean For PA Gambling?"},"content":{"rendered":"

Early Wednesday morning, two gaming companies announced a major merger<\/a> that creates a new largest gaming company in the world.<\/p>\n

The two companies involved are The Stars Group<\/strong> (TSG) and Flutter Gaming<\/strong>. The Stars Group is the parent company of PokerStars<\/strong><\/a> and FOX Bet<\/strong><\/a>, among other brands. Flutter Gaming is better known as Paddy Power Betfair<\/strong>. The company also owns the FanDuel<\/strong> brand.<\/p>\n

New gaming company valued at $11.3 billion<\/span><\/h2>\n

Per the announcement, the merger will create the world\u2019s biggest gaming company, valued at approximately $11.3 billion<\/strong>. Paddy Power Betfair will own approximately 55%<\/strong> of the new company. TSG shareholders will own roughly 45%<\/strong> of the venture.<\/p>\n

Flutter CEO Peter Jackson s<\/strong>poke about how the deal will affect both companies\u2019 US operations:<\/p>\n

\u201cThe combination represents a great opportunity to deliver a step change in our presence in international markets and ensure we are ideally positioned to take advantage of the exciting opportunity in the US through a media relationship with FOX Sports as well as our development of US sports betting through Flutter\u2019s FanDuel and TSG\u2019s FOX Bet brands. We are committed to these two high quality brands to drive the growth of the Combined Group in the US.\u201d<\/p><\/blockquote>\n

Gary McCann<\/strong>, who currently chairs Flutter, will take over the chairman role at the new company. Jackson will take on the role of CEO of the combined group. TSG CEO Rafi Ashkenazi<\/strong> will shift over to the new company\u2019s COO. The company will also create a 14-member board to oversee operations.<\/p>\n

Ashkenazi was also enthusiastic about the new venture:<\/p>\n

\u201cThis exciting combination will allow us to enhance and accelerate our existing strategy. In recent years, we have transformed TSG from a single product operator in poker to a diverse global leader with multiple product offerings across poker, gaming, and sports betting. The combination with Flutter will further enhance our company\u2019s core strengths and position us strongly for the future in this rapidly evolving industry.\u201d<\/p><\/blockquote>\n

<\/div>\n

What does this mean for Pennsylvania?<\/span><\/h2>\n

Both Flutter and TSG are operational in Pennsylvania. Flutter\u2019s FanDuel Sportsbook<\/strong><\/a> is the state\u2019s biggest sports betting site<\/a>, while TSG launched<\/a> the FOX Bet online sportsbook less than a month ago.<\/p>\n

Per the release, there will definitely be a consolidation of resources<\/strong> behind the scenes. The most notable change is moving the sportsbooks to a single platform. There is no indication yet which platform that will be but given the rave reviews for FanDuel\u2019s platform, it seems more likely FOX Bet will shift its look and feel. Of course, it is also possible both operations utilize an all-new platform. Everything is still up in the air on this front.<\/p>\n

You can expect both brands to remain in US markets and both expand into new markets as well. Rather than pare down to a single brand, the merger seems more about offering the two brands access<\/strong> to the highest number of states possible.<\/p>\n

Flutter\u2019s deal with Boyd Gaming<\/strong>, which is how the company\u2019s partnership with Valley Forge<\/strong><\/a> came to be, puts Flutter in potentially 24 states<\/strong>. The Stars Group could gain access to many of those states as well That is if the sports betting and online gambling legislation allow for multiple skins on a single license.<\/p>\n

In the near-term, the deal could mean that Pennsylvania\u2019s top two brands are from the same provider. Though it is unclear just how much FOX Bet has permeated the Keystone State market. Once August numbers come out, it will be more apparent just how big a powerhouse<\/strong> this new company will be in Pennsylvania.<\/p>\n

The post What Does The New Flutter\/Stars Group Deal Mean For PA Gambling?<\/a> appeared first on Play Pennsylvania<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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