M&A News

Toronto-listed gaming operator The Stars Group has confirmed that it has increased its equity interest in Australia’s CrownBet Holdings to 80 per cent.

The Stars Group acquired a 62 per cent stake in the online betting operator at the end of last month for US$117.7m. It has increased its stake in the business by 18 per cent through the issue of approximately 3.1m newly-issued shares in the company, equivalent to $81m.

With CrownBet having been revealed yesterday as the acquirer of William Hill Australia, The Stars Group said that the aggregate purchase price for both transactions was $315m, of which $234m was payable in cash for the William Hill Australia business.

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