The Stars Group officially merged with Flutter Entertainment
We’ve recently wrote that The Stars Group revenue had grown by 27% due to the coronavirus, which forced most of the world's population to stay home.
In late April, The Stars Group and the Flutter Entertainment shareholders had a meeting, during which it was decided to finally merge the companies.
Just two days ago, the London Stock Exchange began to trade stocks of the updated holding Flutter Entertainment.
In this regard, The Stars Group ceased to exist as a separate company.
Initially, the Flutter Entertainment even wanted to sell Paddy Power for the sake of merging with The Stars Group, but the deal was somehow arranged without selling the company.
As for the poker rooms, most likely that just little will change.
Nevertheless, the Flutter Entertainment might try to pool all poker rooms based on Stars. Thus, this holding will reduce competition between its services.
The Flutter Entertainment also intends to reduce the number of its divisions from 5 to 4 by merging The Stars Group with the Paddy Power Betfair.