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Stars Group Trades Higher On All-Stock Merger With Flutter Entertainment

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The Stars Group shares are trading higher after the company announced an all-stock merger with Flutter Entertainment.

The merger will combine two businesses in the sports betting and gaming sector. On completion of the merger, Flutter shareholders will own approximately 54.64% and The Stars Group shareholders would own approximately 45.36% of the share capital of the combined group.

On a proforma basis, the combined group’s annual revenue would have been £3.8 billion in 2018, making it the largest online betting and gaming operator globally.

Reported by Benzinga

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