The Stars Group is expecting a new curve of growth as it is planning to acquire 20 percent more of the Australian bookmaker BetEasy. Group has been BetEasy’s shareholder for quite some time now and is now planning to actually take over the remaining share it didn’t own, according to reliable sources.
While the open motive for this is clear, which is growing as you’d expected with any other company, sources hint that this move by the group may have more than meets the eye. Canadian online analysts are still speculating on what other motives are behind this move, beyond or besides normal expansion.
As shared in casino.org’s website as well as other top sources, this comes after the officials of the Stars Group Inc. came to a consensus and agreed to pay a whopping $102.58 million for getting the 20 percent ownership. That amount of money is way too much but still, the Stars committee passed the budget unanimously.
One possible reason the company may be taking such a bold move and spending that much on the property is thought as one of its strategies to increase its market authority. The Australian gaming market is fast-growing and for the group, it is fortunate that they already have a name to build on in the industry.
What is however not clear is that PokerStars, which is The Stars Group parent company was recently announced as a takeover with a tag price of 12.2 billion deal. If this goes through the company will combine with the UK’s local Flutter Entertainment, another super popular gaming portal.
TSG itself is one of the most active buyers of betting and sports companies assets in Australia, so they are used to such deals.
That is, besides the enhancement in sports betting regulations in Australia, TSG recently acquired the William Hill Crownbet and its Australia’s branch. Chad Beynon, of Macquarie hospitality, came to confirm this allegation in a note that he sent to Casino.org.
As at now, TSG’s net worth goes beyond borders as they have close ties with the world’s fastest-growing betting and sports wagering markets and this is through the Fox network’s and in precise the FoxBet. At the beginning of this year Fox acquired around 5 percent of TSG’s assets for a whopping amount of over $236 million.
Besides that, the agreement between the two companies also gives Fox an option to purchase up to half of this Canada-based sports company, but this is if thing stays the same without changing. Some of the factors that might trigger a change of mind could be if the TSG cames up with new management, or if the company would have given much of its control to other shareholders.
This Canadian company rose to the global player rank in 2018 after buying part of Sky Betting & Gaming at a whopping $4.7 billion. This deal brought several companies including the Sky Vegas, Sky Bet, Sky Poker, Sky Casino and the Sky Poker under TSG control.