SBC News Voice of the Sports Betting Industry
Updating the market, Toronto TSX-listed The Stars Goup Inc completes a busy week in which the company has successfully executed its public share offering raising $622 million in capital for its acquisition of Sky Betting & Gaming (Sky Bet).
Last week, the Stars Group governance alerted investors that it would proceed with a new public share offering selling a combined 25 million common shares at a target price of $38.
On Tuesday, the Stars Group confirmed that it had closed its public share transaction on the Nasdaq and Toronto TSX exchanges.
Closing-in on its $4.7 billion acquisition of Sky Bet, the Stars Group governance has further launched a new unsecured private loan offering for $750 million, which will be made available to private institutions.
In 2018, an M&A hungry Stars Group has moved to expand its global presence undertaking the acquisitions of CrownBet and William Hill Australia.
In order to operate its newly enlarged capacity, the Stars Group governance has expanded its corporate debt facilities to + $5 billion, as the TSX firm seeks to become online gambling’s most valued listed enterprise.
