The Stars Group seeks Sky Betting Funding via TSX, Nasdaq

Toronto online gambling juggernaut proposes common shares public offering.

Toronto Online Gambling Firm Stars Group seeks Common Shares Public OfferingThe Stars Group is already among the largest online gambling companies in the world. Based out of Toronto, it owns some of the largest iGaming operations in existence. Its portfolio includes online poker behemoths PokerStars and Full Tilt, along with the popular casino and sports betting sites, PokerStars Casino and BetStars. If their latest acquisition comes to fruition, The Stars Group will officially become the largest global operator in the online gambling industry.

Earlier this year, the company set its sights on UK-based Sky Betting & Gaming, one of the largest iGaming brands in all of Europe. That company owns real money internet gambling operations Sky Bet, Sky Bingo, Sky Casino, Sky Poker, and Sky Vegas. It also operates several free-to-participate gaming sites as well as the odds comparison domain, Oddschecker.

In April 2018, Sky Betting & Gaming and its majority owners, CVC Capital Partners, signed an agreement to sell the Sky brand to Stars Group for $4.7 billion (£3.4bn). That deal requires a number of approvals before it can be finalized. In the meantime, the Canadian gaming firm is looking into ways to raise the billions of dollars needed to complete what could very well be the most significant acquisition of 2018.

Toronto Online Gambling Group Considering Common Shares Public Offering

On Monday, a press release went out confirming that The Stars Group has filed a “preliminary prospectus supplement… relating to a proposed underwritten marketed public offering of common shares”. The public offering would include a “treasury offering” of 15 million common shares, followed by a “secondary offering” of 6 million common shares by “certain shareholders”.

If approved by the Toronto Stock Exchange (TSX), pricing for the shares will be determined upon initiation of the underwriting agreement. Representing The Stars Group in the prospectus is Morgan Stanley, J.P. Morgan and Deutsche Bank Securities Inc., with additional representation from Goldman Sachs & Co. LLC, Barclays, BMO Capital Markets and Macquarie Capital (USA) Inc.

The Stars Groups Funding Sky Betting Acquisition via TSX and Nasdaq

If successful, the iGaming juggernaut will use the proceeds from the treasury shares, combined with cash on hand and debt financing, to cover the cost of the $4.7bn acquisition.

It’s worth noting that the public offering of common shares is not contingent upon the completion of the purchase of Sky Betting and Gaming, or successful debt financing. Should the acquisition fall through, The Stars Group will go ahead with the public offering, using the funds for “general corporate purposes”.

Much like the acquisition itself, certain approvals are necessary before the public offering can take place. It must get the green light from the Toronto Stock Exchange, and the shares must be made available on both the TSX and Nasdaq. The Stars Group has filed preliminary supplements with all securities regulators in all provinces and territories of Canada, as well as the US Securities and Exchange Commission (SEC).

For more information on the impending common shares public offering, please refer to the Draft Shelf Prospectus Supplement filed by The Stars Group on June 18, 2018.

Best Overall Canadian Casino with Easy Deposits : Royal Vegas

CTA_CC

Royal Vegas, the leading Canadian gaming brand, are really going out of their way this month and offering a very lucrative offer to prospective players. Details inside.