Flutter and Stars Group reached combined €4.2bn revenue
During 2019, soon-to-merge Flutter and Stars Group posted a major full-year revenue figure as they reached a combined €4.2 billion.
UK.- A huge merger will soon see Flutter and Stars Group turn into one business. That’s why the combined revenue both reached in 2019 turns out to be shocking.
During 2019, full-year revenue reached €4.2 billion for both companies combined. While Flutter reached €1.9 billion, Stars managed to rake €2.3 billion.
Flutter CEO Peter Jackson said: “2019 was a very significant year for Flutter, with further successful expansion in the US, enhancement of responsible gambling initiatives within our business and the announcement in October of our proposed merger with Stars Group.”
Stars Group CEO Rafi Ashkenazi said: “We not only began to see the full-year benefits of our transformative 2018 acquisitions but executed on delivering a landmark media partnership in the US, with the launch of Fox Bet strengthening our position in this emerging market.”
Probe on the merger
The Competition and Markets Authority (CMA) has announced an investigation on one of the biggest deals in gaming. The UK competition regulator will look into the Flutter and Stars Group merger to check its impact in the market.
The two gaming giants announced their deal early in 2019 to create the largest company in the industry. However, the €11.8 billion deal may cause “a substantial lessening of competition” which is what the CMA will assess.
The combination of the companies would create a global leader in sports betting and gaming. The Combined Group will feature a diverse portfolio of leading brands, including FanDuel and FOX Bet. They estimate that the merge will allow them to benefit from an enhanced global platform and improved local market reach. On a proforma basis, the Combined Group’s annual revenue would have been £3.8 billion in 2018. That would make it the largest online betting and gaming operator globally.
