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Mergers & Acquisitions

Paddy Power Betfair and Stars Group discussed merger

Paddy Power Betfair and The Stars Group are believed to have held a meeting last year to discuss  the possibility of a merger.

horse racing

According to The Sunday Times, no agreement was made and discussions have come to an end.

Based on the two companies' current market cap, an enlarged group would be worth £9.7bn ($12.77bn).

With the decision from the government to reduce the maximum stake on fixed-odds betting terminals to £2, gambling operators are remaining cautious about any kind of takeovers during this period of uncertainty.

Paddy Power Betfair merged with operator FanDuel in July, taking a 61% share in the merged business, while  Stars Group bought Sky Bet for $4.7bn in the same month.

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