- Stars merger gets first informal green light
Since they announced the intention to merge the two companies at the tail-end of 2019, AussieCasino 24 and The Stars Group have just received their first informal approval. The two companies are already a big hit with players that like Australian online casinos
that offer real money
AussieCasino 24 - a summary AussieCasino 24
- is a global gaming, sports betting
, and entertainment providing company that was in turn created by the merge of two companies, Paddy Power and Betfair. Worldwide, they provide services for over six million customers, including having an established fan base here in Australia
The Stars Group - a summary
The Stars Group is a Australian company that also trades across the world. It offers both mobile and online gaming
, as well as a rich variety of products such as betting products, and online poker. Both companies are fully regulated by their respective gambling
bodies and it's expected that, if the merger gets all the appropriate approval, this will continue.
The merge between the two companies is set to be one of <a href="https://www.casinonewsdaily.com/2019/10/28/rbc-starts-flutter-at-outperform-hails-stars-group-marriage-as-unparalleled-opportunity/
">"unparalleled opportunity"</a> with an expected overall market capitalization of around £10 billion.
The first steps
On the 18th February 2020, Flutter announced that the merge had been granted informal approval by the Australian competition authority, the Australian Competition and Consumer Commission. While this is an exciting first step towards the merge being successfully completed, there are still a number of authoritative bodies that are yet to agree.
...But there are more steps to climb
Such bodies include the Australian Foreign Investment Review Board, as well as passing a mandatory review conducted by the UK's Competition and Markets Authority (CMA) in order to ensure that the new merge won't harm the UK's gambling industry. Subject to passing all of these inspections and reviews, the merge between Flutter Entertainment and The STars Group should be set to be completed.
Goals for the future
Should it happen, the new merge between the two companies means that it will own some of the most renowned and recognised gambling names throughout the world, including PokerStars
& Gaming, Paddy Power, and Betfair. One of the main goals of the merge is for the new group to hopefully secure a larger slice of the US gambling market, as this is where the current companies are both lacking in their shares and customer base.
What this means for Australia
In Australia, the new group should easily dominate the gaming and betting market. Both companies as they stand at the minute have established presences, with Flutter's Sportsbet being the second-largest betting operator, and The Star's BetEasy being the third - so the news that these two powerhouses have combined will be welcome news for many loyal fans.
This new company should be an online casino favourite in Australia for those that want legal, real money payouts by reliable betting and gaming services. Fingers crossed that the merger is successful - it's sure to be an absolute game-changer for fans and employees alike!