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Britain's CMA to investigate Flutter and Stars' gambling tie-up

02/05/2020 | 04:10am EST
FILE PHOTO: Paddy Power logo is seen behind a keyboard and gambling dice in this illustration taken in Sarajevo

Britain's competition regulator said on Wednesday it plans to investigate the planned merger of gambling companies Flutter Entertainment and The Stars Group.

The two firms announced plans for an all-share deal last October that would create the world's largest online betting business by revenue.

Dublin-based Flutter owns the Paddy Power and Betfair brands, while Toronto-based The Stars Group owns Sky Betting and Gaming.

The Competition and Markets Authority said it would consider whether the tie-up would result in "a substantial lessening of competition" in Britain.

Analysts at Davy said the CMA review was expected and the timing was consistent with the timetable previously set by Flutter, suggesting the deal was on schedule to complete by the third quarter this year.

(Reporting by Iain Withers, editing by Louise Heavens)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 1.54% 19.14 Delayed Quote.248.00%
FLUTTER ENTERTAINMENT PLC -1.28% 154 Delayed Quote.44.51%
JUST GROUP PLC 0.79% 57.65 Delayed Quote.-27.03%
THE STARS GROUP INC. 0.00%End-of-day quote.10.62%
WILL GROUP, INC. 0.91% 999 End-of-day quote.-20.21%
WORLD CO., LTD. -0.97% 1324 End-of-day quote.-50.80%
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