Stars Group Shareholders Approve Merger In Final Hurdle

With a majority vote of 99.9% The Stars Group shareholders have approved the takeover by Flutter Entertainment for £3.8 billion.

Last week saw the approval of Flutter shareholders on the deal paving the way for the deal to be formalised. Flutter who operate both Betfair and Paddy Power say they expect the deal to be completed in May this year.

On completion the deal will mean that Flutter Entertainment will own 54.6% of The Stars Group and Stars Group shareholders owning the remaining 45.3% of shares. It was only back in March this year that the Competition and Markets Authority gave the green light to the deal as fears of a monopoly would be created by the merger.

It is thought that the new merger will create a £10 billion giant gaming operator.