The parent of PokerStars is merging with the company behind Betfair and Paddy Power to form the biggest operator in sports betting.

Flutter Entertainment, the parent company behind a number of gaming operators most notably Paddy Power and Betfair, are to buy The Stars Group, owner of PokerStars and Sky Bet.

Dublin based Flutter will own around 54.64% of the new company with TSG shareholders owning around 45.36%. Shares in Flutter Entertainment went up around 12% today.

The sale is expected to complete in the third quarter of 2020 after a vote will be put forward to Flutter shareholders.

The combination between @FlutterPLC and The Stars Group will create a global leader in sports-betting and gaming. Here are some of the highlights of the combined group. pic.twitter.com/N6w6jMFVzx — Flutter plc (@FlutterPLC) October 2, 2019

Last week The Stars Group confirmed around 50 redundancies in their Malta office.

In 2018 PokerStars and SkyBet merged to create a gaming powerhouse. In 2015 Betfair and Paddy Power merged to create one of the biggest sports betting brands. With combined revenues of around £3.8 billion and an estimated new value of £10 billion, this will likely make the new entity the biggest operator in sports betting and gaming in the world.

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