Stars Group Proposes Public Share Offering

Published By Mia Gardner : 21 Jun 2018 | Last Updated: 28 Dec 2020

The Stars Group, owner of popular betting brands BetStars, PokerStars and Full Tilt, has reportedly submitted a supplementary prospectus in North America in a bid for a proposed public offering of 15 million common shares. The IPO is aimed to assist the firm in funding its $4.7 billion purchase of fellow operator Sky Betting and Gaming.

Stars Group is furthermore considering launching a secondary offering of 6 million common shares. The size and price of the offering will be based on numerous factors, and will be decided on when the firm enters into an underwriting agreement for the IPO, the firm noted in a recent statement.

Proceeds for SkyBet Acquisition

The representatives and accounting managers of the underwriters will include JPMorgan, Morgan Stanley, and Deutsche Bank Securities. Barclays, Goldman Sachs & Co., BMO Capital Markets and Macquarie Capital Inc. are also set to be additional book-running managers. The co-managers selected for the offering are Investec Bank Plc., Union Gaming Securities, Canaccord Genuity Corporation, Blackstone Capital Markets, and Cormark Securities Ltd.

The Stars Group is aiming to use the proceeds of this treasury offering to fund its SkyBet purchase, along with cash and debt financing contributions. The Canada-based gaming giant signed a deal to acquire SkyBet in April, inking an agreement that would create the biggest publicly listed iGaming firm in the world.

The IPO will be subject to a number of conditions, including the listing of treasury common shares on Nasdaq and the Toronto Stock Exchange (the latter of which must also provide its approval). The firm has filed its preliminary supplement with securities and regulatory watchdogs in each province of Canada, and with the US Securities and Exchange Commission as well.

Stars Group’s Stock Values Soar

The Group’s stock values have soared by over 70% since the start of the year, hitting a record high of $50 in June before dropping to just under that figure on June 15. The firm now expects to profit from legalized sports betting services across America as well, following the Supreme Court’s decision to abolish the nationwide sports betting ban in May this year.

The iGaming operator furthermore reported a year on year revenue increase of 23% during the first three months of 2018. The Stars Group is a leading supplier of online and mobile gaming product offerings, which it supplies through its regulated brands like PokerStars, PokerStars Casino and more.

The company also owns brands such as the European Poker Tour, the Latin American Poker Tour, the PokerStars Caribbean Adventure, the Asia Pacific Poker Tour, PokerStars Festival, and the PokerStars MEGASTACK Live Poker Tour. PokerStars is also the world’s most licensed iGaming brand, holding operation permits in no less than 17 different regions around the world. uses cookies to give the best experience possible. Please read our Cookie Policy for more details