PokerStars has a new owner as reported last week. The Stars Group, owner of the world's largest online poker site and other major online casino brands, was sold to Flutter Entertainment for a cool $ 12 billion. No, it's not a typo.
Massive sales now create the largest online poker brand in the world. Flutter Entertainment is a combination of Paddy Power and BetFair, two of the world's leading online bookmakers.
Flutter also owns the controlling stake of FanDuel, one of the most popular fantasy sports sites in the US. The lucrative transaction will be finalized in the second quarter of 2020.
A transaction larger than regular money
Online gambling is bought and sold every month. But it's rare that a sale or merger generates as much mainstream media hype as we saw with the Flutter Entertainment acquisition. This is because it is the largest sale in online gambling history.
Darren Rovell, an analyst on sports and sports betting on The Action Network (formerly ESPN), recently appeared on CNN, one of the leading political cable networks in the United States, to discuss mass sales.
Other major popular websites such as The Guardian and Business Insider were also touched upon in this story. A little, and in this case a lot, of positive publicity will never hurt. The more people talk about online gambling, the better.
PokerStars purchase key for Flutter
The Stars Group has an extensive portfolio with a poker site, a sports betting site, and an online casino. He even owns the long-known brand SkyBetting, which is a very profitable online bookmaker. But the Toronto-based firm's greatest asset is PokerStars, the world's most popular poker site.
Flutter Entertainment is emerging as the biggest and worst online poker brand in history. PokerStars, a global poker site that is not available in the United States except New Jersey, attracts the best poker players in the world and of course many recreational players.