Australia Approves Flutter Entertainment Merger

Paddy Power owner Flutter Entertainment said it has been notified by the Australian Competition and Consumer Commission that its planned £10 billion (€11.8 billion) merger with the Stars Group has been granted informal approval.

However, the deal is still subject to approval by the Australian Foreign Investment Review Board as well as other international regulatory bodies.

The company proposed the merger with the Toronto-listed group in October last year. Stars Group owns Poker Stars, Full Tilt and Sky Bet, and is a partner of US media giant Fox Corporation.

Merging with Stars will add four million more customers to Flutter’s current six million customers on three continents. The company has set its sights on the US following a a federal court ruling in 2018 that lifted a ban on individual states legalising betting on sports such as football, baseball and basketball.

Full Content: Irish Times, SBC News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.