Tag Archives: The Stars Group

Fox challenges Flutter on FanDuel’s ‘fair market pricing’

Fox Corporation has launched legal proceedings against Flutter Entertainment in relation to the former exercising its option to acquire an 18.6% stake in the FanDuel sportsbook. Flutter has argued that Fox must conduct the transaction at a ‘fair market price’, whilst the American multimedia corporation maintains that it should pay the same amount Flutter paid in December 2020. Through its …

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Flutter to appeal Kentucky Court’s $870m TSG ruling

Flutter Entertainment is expected to appeal a $870 million ruling made by the Kentucky Supreme Court, having argued that the litigation ran contrary to modern US legal precedent. The case, which was reversed in late 2018, was initially filed by the Commonwealth of Kentucky in 2010, approximately four years prior to The Stars Group’s (TSG) acquisition of the PokerStars business.  …

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‘Deal maker’ Rafi Ashkenazi ends Flutter tenure 

Flutter Entertainment has confirmed that former The Stars Group Inc (TSG) Group Chief Executive Rafi Ashkenazi has chosen to end his responsibilities as a non-executive director of the company, effective immediately.   The confirmation of Ashkenazi’s departure follows Flutter publishing its 2020 interim statement this morning, in which corporate governance underlined that it would accelerate technology integrations and regulatory alignment with …

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Tabcorp expects $1bn hit as ‘COVID and retail contractions’ take effect

Tabcorp Holdings will write down its wagering and media business by at least AUD $1 billion (€605m) as a result of COVID-19 shutdowns and ‘the possible acceleration of retail contraction’. The company made its statement in a filing to the ASX Exchange, in which it revealed that it had undertaken a ‘review of assets’ in which it expects to incur …

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Ashkenazi joins BlueRibbon as strategic advisor

Rafi Ashkenazi, the former Chief Executive of The Stars Group, has joined BlueRibbon Software as its strategic advisor, supporting the B2B marketing platform provider in strengthening its foothold across a range of global gaming markets. BlueRibbon praised Ashkenazi’s expertise in the igaming industry, and hopes that his experience from holding a series of c-suite management positions will ‘add to the …

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Diversified Stars Group rides out first wave of COVID-19 headwinds 

Mirroring merger partner Flutter Entertainment, this morning The Stars Group Inc (TSG) has issued a trading update detailing that Q1 2020 revenue performance has been maintained despite facing COVID-19 disruptions. TSG has predicted that it will generate circa $735 million in group revenues for Q1 2020 trading, reflecting a 27% increase on Q1 2019’s $580 million. The TSX Group cited …

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UK drives Stars Group growth despite international ‘disruptions’

Publishing its results for the fourth quarter and year ended December 31 2019, Toronto TSX-listed The Stars Group Inc has lauded strong growth across its UK division despite international betting revenue falling by 8.3% for the year.  Stars Group revealed that its new UK and Australian divisions delivered growth in the year, which was ‘largely driven by strong underlying trends …

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CMA begins probe of Flutter-Stars combination

The UK Competition and Markets Authority (CMA) has begun its evaluation of the planned merger agreed by FTSE100 Flutter Entertainment Plc with Toronto TSX counterpart The Stars Group Inc. Last October, Flutter and Stars Group governances agreed to terms on an all-share combination, seeking to create the outright global market leader operating across all online gambling verticals. For the UK …

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Flutter appoints Fiona Thorne as Corporate Affairs lead

Flutter Entertainment Plc has confirmed the appointment of Fiona Thorne as new Group Corporate Affairs Director. An expert in corporate communications, agency and stakeholder management for mass-market enterprises, Thorne was the former Director of Corporate Affairs for Gala Coral (2014-2016) prior to its merger with Ladbrokes and subsequent takeover by GVC Holdings. Thorne joins Flutter’s executive leadership team from New …

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North American operators land SBC Awards shortlist spots

SBC Awards US Nominees

FanDuel Group and The Stars Group lead the North American charge at the SBC Awards 2019 with places on the shortlists of the headline operator categories.  The SBC Awards, which take place in the stunning setting of Battersea Evolution in Central London on Tuesday 3 December 2019, were established to recognise excellence in the sports betting and igaming sectors around …

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