Cases & Deals

The Stars Group to combine with Flutter Entertainment in all share transaction to create world's largest online gaming company by revenue

Clients Stars Group Inc., The

Jones Day is advising The Stars Group Inc. ("TSG"), listed on Nasdaq and TSX, on an all-share combination with Flutter Entertainment plc ("Flutter"), listed on LSE, to be implemented through an acquisition of TSG by Flutter pursuant to a Canadian plan of arrangement (the "Combination"). Under the terms of the Combination, shareholders in TSG will receive shares in Flutter and following completion, Flutter shareholders would own 54.64 percent and TSG shareholders would own 45.36 percent of the share capital in the combined group. The terms of the transaction value TSG at approximately £4.95 billion (US$6.0 billion), and the combined company at more than £11.0 billion. As part of the deal, Fox Sports will have the right to buy 18 percent of FanDuel at its market value in 2021, and Flutter's other U.S. partners will receive equity in FoxBet.

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