TSG stock has soared 30% today following news of a merger between The Stars Group (TSX:TSGI) (NASDAQ:TSG) and Flutter Entertainment (OTCPK:PDYPY).
Flutter Entertainment, the Dublin-based parent company of betting giants Paddy Power and Betfair, will buy The Stars Group, which owns Poker Stars, for approximately $6 billion USD to form what will be the largest betting company in the world. The merger aims to capitalize on the huge potential of the US betting market, where sports betting had been banned for 26 years. The ban was struck down last year after a legal challenge by the ...
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