Owners of Fan Duel and Poker Stars in $6billion deal to create the world's biggest online betting group

Flutter Entertainment have agreed to purchase The Stars Group in a $6billion deal to create the world's biggest online betting group.
The deal will see Flutter brands Paddy Power, Betfair and Fan Duel combine The Stars Group's Poker Stars, Full Tilt and Sky Bet. 
It is the latest in a series of betting industry deals as the market responds to the increase in gamblers using online and mobile devices and the relaxation of rules on sports betting in the United States.

The two companies combined for $4.7billion in revenue last year and together boast around 4 million active users across more than 100 countries.
But it is in the emerging gambling markets in the US that this new gambling super power will look to wield its strength the most.
FanDuel Sportsbook is the early leader in sports betting in New Jersey and Pennsylvania, the two biggest markets outside of Nevada. The recently launched Fox Bet - a joint venture between Fox Sports and Stars - was also striving to become a major player as well.
The proposed merger, which is expected to go through next year, will see the Fan Duel and the Fox Bet/Stars venture co-exist on the same platform.
Fox Sports, who partnered with TSG in May, have the right to acquire an 18.5% stake in FanDuel in 2021 as an incentive for Fox to use its media platform to grow the fantasy sports side of the business, which Paddy Power bought for $465million last year.

Flutter CEO Peter Jackson said: ?The combination represents a great opportunity to deliver a step change in our presence in international markets and ensure we are ideally positioned to take advantage of the exciting opportunity in the US through a media relationship with FOX Sports as well as our development of US sports betting through Flutter?s FanDuel and TSG?s FOX Bet brands. We are committed to these two high quality brands to drive the growth of the Combined Group in the US."

The combined group will have access to sports betting in a combined 24 states thanks to deals struck with regional casino operators Boyd Gaming and Penn National that hold the keys to access in many states.

Fox Corp CEO Lachlan Murdoch said: ?We?re excited to be able to expand our partnership into FanDuel, which together with FOX Bet, will be a leader in sports wagering in the US.? 

Flutter shareholders will own 54.64% of the combined group with TSG shareholders owning the remainder.