Toronto’s The Stars Group to Acquire Australian Sports Betting Outfit
Toronto-headquartered The Stars Group Inc. has entered into definitive agreements to increase its equity interest in CrownBet Holdings Pty. Ltd. from 62 per cent to 80 per cent and for CrownBet to acquire William Hill Australia Holdings Pty Ltd. The aggregate purchase price for both transactions will be approximately US$315 million, of which US$234 million will be payable in cash for William Hill Australia and the remainder will be payable in approximately 3.1 million newly issued common shares of The Stars Group for the increased equity interest in CrownBet. The Stars Group is a leading provider of technology-based products and services in the global gaming and interactive entertainment industries.