COMMUNIQUÉ: The Stars Group acquires Sky Betting & Gaming for 4.700 million dollars (2)

COMMUNIQUÉ: The Stars Group acquires Sky Betting & Gaming for 4.700 million dollars (2)

 

The board of directors of The Stars Group unanimously approved the transaction. The Stars Group is currently anticipating the completion of the transaction in the third quarter of 2018. The completion of the transaction is conditional upon the achievement of the customized approvals of the Toronto Stock Exchange, Nasdaq and some gaming authorities and regulations, as well as of the completion of other custom closing conditions. The approval of the transaction through the shareholders of The Stars Group will not be a condition or condition of closure.

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The board of directors of The Stars Group unanimously approved the transaction. The Stars Group is currently anticipating the completion of the transaction in the third quarter of 2018. The completion of the transaction is conditional upon the achievement of the customized approvals of the Toronto Stock Exchange, Nasdaq and some gaming authorities and regulations, as well as of the completion of other custom closing conditions. The approval of the transaction through the shareholders of The Stars Group will not be a condition or condition of closure.

The Stars Group will maintain the rights of SBG under certain commercial, licensing and marketing agreements with Sky. Some of these agreements currently cover the United Kingdom, Italy and Germany, as applicable, including a framework to cover additional geographies with multiple agreements in the future.

Morgan Stanley & Co. LLC and PJT Partners LP acted as financial advisers to The Stars Group and its board of directors, while Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Macquarie Capital (USA) Inc. and Morgan Stanley & Co. LLC provided debt financing committed. PJT Partners LP also advised The Stars Group on the financing of the debt associated with the transaction. Gibson, Dunn & Crutcher LLP and Blake, Cassels & Graydon LLP acted as co-advisors to The Stars Group in relation to the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to The Stars Group on financing the debt associated with the transaction.

Unless otherwise indicated, all references in this press release that appear with the symbol “$” are expressed in US dollars, while those in “GBP” refer to the British pound sterling.

 

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On Monday, April 23, 2018, at approximately 8:30 a.m. ET, an investor press conference will be held.

 

The reproduction will be available two hours after the event through the telephones +1 844-512-2921 or +1 412-317-6671. The conference ID number is 13679193.

 

About The Stars Group

The Stars Group is a leading provider of technology products and services in the international gaming and interactive entertainment industries. The Stars Group owns, directly or indirectly, through its Stars Interactive Group, business and game brands and related merchandising, including PokerStars, PokerStars Casino, BetStars, Full Tilt, and the PokerStars Players No Limit Hold’em Championship. , European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour, Asia Pacific Poker Tour, PokerStars Festival and the live poker tour and the PokerStars MEGASTACK event brands. Together, these brands bring together millions of registered customers across the globe and are the largest poker business in the world to include poker games and tournaments, sponsored live poker competitions, marketing agreements for branded poker rooms and programming. Poker content created for television and the online public. The Stars Group, through some of these and other brands, also offers other interactive entertainment products. The Stars Group, through some of its subsidiaries, has a license or approval to offer or offer, through licenses or authorizations of third parties, its products and services in various jurisdictions around the world, such as Europe, both within and outside the European Union. , Australia, America and others. In particular, PokerStars is the brand of online games with the most licenses on the planet, as it holds licenses or operating authorizations in 17 jurisdictions.

About CVC Capital Partners

CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC currently has a network of 23 offices and has approximately 400 employees in Europe, Asia and the United States. To date, CVC has secured commitments for more than 107 million dollars from some of the world’s most prominent institutional investors in their private and credit equity strategies. In total, CVC currently manages more than 65,000 million dollars in assets. Currently, the funds managed or advised by CVC are invested in 50 companies around the world, employing 310,000 people in different countries. Together, these companies have combined annual sales of more than 70,000 million dollars.

 

 

COMMUNIQUÉ: The Stars Group acquires Sky Betting & Gaming for 4.700 million dollars (2)

COMMUNIQUÉ: The Stars Group acquires Sky Betting & Gaming for 4.700 million dollars (2)

 

The board of directors of The Stars Group unanimously approved the transaction. The Stars Group is currently anticipating the completion of the transaction in the third quarter of 2018. The completion of the transaction is conditional upon the achievement of the customized approvals of the Toronto Stock Exchange, Nasdaq and some gaming authorities and regulations, as well as of the completion of other custom closing conditions. The approval of the transaction through the shareholders of The Stars Group will not be a condition or condition of closure.

Resulta ng larawan para sa casino

The board of directors of The Stars Group unanimously approved the transaction. The Stars Group is currently anticipating the completion of the transaction in the third quarter of 2018. The completion of the transaction is conditional upon the achievement of the customized approvals of the Toronto Stock Exchange, Nasdaq and some gaming authorities and regulations, as well as of the completion of other custom closing conditions. The approval of the transaction through the shareholders of The Stars Group will not be a condition or condition of closure.

The Stars Group will maintain the rights of SBG under certain commercial, licensing and marketing agreements with Sky. Some of these agreements currently cover the United Kingdom, Italy and Germany, as applicable, including a framework to cover additional geographies with multiple agreements in the future.

Morgan Stanley & Co. LLC and PJT Partners LP acted as financial advisers to The Stars Group and its board of directors, while Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Macquarie Capital (USA) Inc. and Morgan Stanley & Co. LLC provided debt financing committed. PJT Partners LP also advised The Stars Group on the financing of the debt associated with the transaction. Gibson, Dunn & Crutcher LLP and Blake, Cassels & Graydon LLP acted as co-advisors to The Stars Group in relation to the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to The Stars Group on financing the debt associated with the transaction.

Unless otherwise indicated, all references in this press release that appear with the symbol “$” are expressed in US dollars, while those in “GBP” refer to the British pound sterling.

 

Resulta ng larawan para sa casino

On Monday, April 23, 2018, at approximately 8:30 a.m. ET, an investor press conference will be held.

 

The reproduction will be available two hours after the event through the telephones +1 844-512-2921 or +1 412-317-6671. The conference ID number is 13679193.

 

About The Stars Group

The Stars Group is a leading provider of technology products and services in the international gaming and interactive entertainment industries. The Stars Group owns, directly or indirectly, through its Stars Interactive Group, business and game brands and related merchandising, including PokerStars, PokerStars Casino, BetStars, Full Tilt, and the PokerStars Players No Limit Hold’em Championship. , European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour, Asia Pacific Poker Tour, PokerStars Festival and the live poker tour and the PokerStars MEGASTACK event brands. Together, these brands bring together millions of registered customers across the globe and are the largest poker business in the world to include poker games and tournaments, sponsored live poker competitions, marketing agreements for branded poker rooms and programming. Poker content created for television and the online public. The Stars Group, through some of these and other brands, also offers other interactive entertainment products. The Stars Group, through some of its subsidiaries, has a license or approval to offer or offer, through licenses or authorizations of third parties, its products and services in various jurisdictions around the world, such as Europe, both within and outside the European Union. , Australia, America and others. In particular, PokerStars is the brand of online games with the most licenses on the planet, as it holds licenses or operating authorizations in 17 jurisdictions.

About CVC Capital Partners

CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC currently has a network of 23 offices and has approximately 400 employees in Europe, Asia and the United States. To date, CVC has secured commitments for more than 107 million dollars from some of the world’s most prominent institutional investors in their private and credit equity strategies. In total, CVC currently manages more than 65,000 million dollars in assets. Currently, the funds managed or advised by CVC are invested in 50 companies around the world, employing 310,000 people in different countries. Together, these companies have combined annual sales of more than 70,000 million dollars.

 

 

Banks: Frankfurt should not become the gambling stronghold

 

Contra: Politics and Banks Frankfurt should not become a gambling stronghold

 

Resulta ng larawan para sa gambling

Megalomaniac bankers have cost the taxpayer a lot of money. To court them now would be wrong. Germany does not need a bank champion.

>>

Born in Freiberg in Saxony, the mechanical engineer (born 1965) was so fascinated by the spirit of social change after the fall of the Berlin Wall that she turned to journalism. She described the change in the East German economy for all-German specialist publishers, after the turn of the millennium she works for The Time , the mirror and the Financial Times Germany . In September 2005 Gammelin co-wrote the Spiegel Bestseller “Die Strippenzieher: Managers, Ministers, Media – How Germany Is Ruled” by Econ Verlag. In the same year she became a correspondent at the capital office of the time , before she joined the Süddeutsche Zeitung in 2008 as EU correspondent in Brussels. In 2014, together with an Austrian colleague, she published “Europe’s Strippenzieher”, the book describing the thriller about saving the Euro and Germany’s role in Europe. In the summer of 2015, she moved to the parliamentary office of the SZ in Berlin, where she writes as deputy editorial director on national and international financial policy.

Does anyone remember the fall of 2008? To HRE, IKB, West LB, LBBW, HSH, Coba? Like battle cries, banknotes rushed through the headlines. Almost every day Angela Merkel accepted petitions from bank directors. The balance of the financial crisis is frightening: 646 billion euros needed German banks as a support framework in the financial crisis. 259 billion euros of tax money flowed away. Of this, 50 billion euros are likely to be lost to the taxpayer – more than anywhere else in Europe. However, Chancellor Angela Merkel and her deputy Olaf Scholz did not stop that from courting the financial sector.

Merkel and Scholz have performed in Frankfurt and have promised that they will work for the industry. At Germany’s financial center number one sounded like “Make German banks great again”. Certainly, it is election campaign in Hesse. Who promises support and distributes praise, may hope for good mood, which can pay off in votes. But only as long as the promises seem credible.

But that’s the problem with Merkel and Scholz. How credible are top politicians of two government parties who had to take billions of euros from the treasury to save banks whose bosses had gambled irresponsibly or stupidly – and the now announced, Germany needed a strong financial sector and urgently at least a big champion to the German export industry finance?

Ten years later: who has benefited from the financial crisis

 

Exactly ten years ago, the global financial crisis began. Today, the economy has recovered – but above all politically, we still see the effects. more …

The argument is also outdated by reality. The Federal Republic has no major banks since the crisis. Deutsche Bank, ranked by the International Monetary Fund as the most dangerous bank in the world after the financial crisis, has shrunk to normal size and is still looking for a business model. Commerzbank is partially nationalized and is considered a takeover candidate. In the logic of Scholz, who at first calls for a global German bank to support the German export companies, one would have to assume that the German companies have a lot of trouble to finance, produce and export, because this champion is not there is. And? Right is the opposite.

The economy in Germany has been running at a stable level for years, there are not as many jobs as since reunification, German exports are at a record level, the German trade surplus also, which incidentally is quite annoying because the companies bunk this money abroad and not investing at home. In any case, it should be noted: Despite the lack of a major bank, the German economy is doing well – or maybe because of that? Savings banks, Volksbanks, commercial banks, online providers and other financial institutions ensure that financing works.

The financial crisis has proved that banks are interwoven worldwide

 

Resulta ng larawan para sa gambling

There is basically nothing against the Federal Government’s commitment to the Frankfurt financial center, especially in times of Brexit. It is right to bring good bankers into the country and offer them attractive living and working conditions, from apartments to multilingual day-care centers. International financial experts are needed in supervision, in all banks, on the stock market, in clearing or even with central banks. But building up Frankfurt as the stronghold of gamblers is not in the interest of the citizens.

It is surprising how narrow-minded national German leaders argue. If the financial crisis has proved, then that banks are interwoven worldwide. A quake in the US triggers shock waves on all continents. The then SPD Minister of Finance Peer Steinbrück wanted 2008 still believe that the German institutes would not be affected by the tumults in the US market. Reality taught him the opposite. And why should German companies even be supported by a major German bank, where there are big European champions, a common domestic market and German politicians, who are supposedly banking on a strong Europe? It seems that word and action diverge and distrust is not far away.

Perhaps one must point out at this point to a matter of course: Banks are not an end in itself. Society needs financial institutions first and foremost to finance businesses and investments and provide citizens with credit. This applies to regional, national and European. The basic functions of a bank must be reliably retrievable. And only if this works, financial institutions contribute to the general prosperity. It depends on the business model. Not on the goodwill of politics or sheer size.

Merkel has to help the German banks

Ten years have passed since the financial crisis, and a lot has happened in Frankfurt since then. That Merkel now promises help is good – because Germany needs strong banks. 

Banks: Frankfurt should not become the gambling stronghold

 

Contra: Politics and Banks Frankfurt should not become a gambling stronghold

 

Resulta ng larawan para sa gambling

Megalomaniac bankers have cost the taxpayer a lot of money. To court them now would be wrong. Germany does not need a bank champion.

>>

Born in Freiberg in Saxony, the mechanical engineer (born 1965) was so fascinated by the spirit of social change after the fall of the Berlin Wall that she turned to journalism. She described the change in the East German economy for all-German specialist publishers, after the turn of the millennium she works for The Time , the mirror and the Financial Times Germany . In September 2005 Gammelin co-wrote the Spiegel Bestseller “Die Strippenzieher: Managers, Ministers, Media – How Germany Is Ruled” by Econ Verlag. In the same year she became a correspondent at the capital office of the time , before she joined the Süddeutsche Zeitung in 2008 as EU correspondent in Brussels. In 2014, together with an Austrian colleague, she published “Europe’s Strippenzieher”, the book describing the thriller about saving the Euro and Germany’s role in Europe. In the summer of 2015, she moved to the parliamentary office of the SZ in Berlin, where she writes as deputy editorial director on national and international financial policy.

Does anyone remember the fall of 2008? To HRE, IKB, West LB, LBBW, HSH, Coba? Like battle cries, banknotes rushed through the headlines. Almost every day Angela Merkel accepted petitions from bank directors. The balance of the financial crisis is frightening: 646 billion euros needed German banks as a support framework in the financial crisis. 259 billion euros of tax money flowed away. Of this, 50 billion euros are likely to be lost to the taxpayer – more than anywhere else in Europe. However, Chancellor Angela Merkel and her deputy Olaf Scholz did not stop that from courting the financial sector.

Merkel and Scholz have performed in Frankfurt and have promised that they will work for the industry. At Germany’s financial center number one sounded like “Make German banks great again”. Certainly, it is election campaign in Hesse. Who promises support and distributes praise, may hope for good mood, which can pay off in votes. But only as long as the promises seem credible.

But that’s the problem with Merkel and Scholz. How credible are top politicians of two government parties who had to take billions of euros from the treasury to save banks whose bosses had gambled irresponsibly or stupidly – and the now announced, Germany needed a strong financial sector and urgently at least a big champion to the German export industry finance?

Ten years later: who has benefited from the financial crisis

 

Resulta ng larawan para sa gambling

Exactly ten years ago, the global financial crisis began. Today, the economy has recovered – but above all politically, we still see the effects. more …

The argument is also outdated by reality. The Federal Republic has no major banks since the crisis. Deutsche Bank, ranked by the International Monetary Fund as the most dangerous bank in the world after the financial crisis, has shrunk to normal size and is still looking for a business model. Commerzbank is partially nationalized and is considered a takeover candidate. In the logic of Scholz, who at first calls for a global German bank to support the German export companies, one would have to assume that the German companies have a lot of trouble to finance, produce and export, because this champion is not there is. And? Right is the opposite.

The economy in Germany has been running at a stable level for years, there are not as many jobs as since reunification, German exports are at a record level, the German trade surplus also, which incidentally is quite annoying because the companies bunk this money abroad and not investing at home. In any case, it should be noted: Despite the lack of a major bank, the German economy is doing well – or maybe because of that? Savings banks, Volksbanks, commercial banks, online providers and other financial institutions ensure that financing works.

The financial crisis has proved that banks are interwoven worldwide

 

Resulta ng larawan para sa gambling

There is basically nothing against the Federal Government’s commitment to the Frankfurt financial center, especially in times of Brexit. It is right to bring good bankers into the country and offer them attractive living and working conditions, from apartments to multilingual day-care centers. International financial experts are needed in supervision, in all banks, on the stock market, in clearing or even with central banks. But building up Frankfurt as the stronghold of gamblers is not in the interest of the citizens.

It is surprising how narrow-minded national German leaders argue. If the financial crisis has proved, then that banks are interwoven worldwide. A quake in the US triggers shock waves on all continents. The then SPD Minister of Finance Peer Steinbrück wanted 2008 still believe that the German institutes would not be affected by the tumults in the US market. Reality taught him the opposite. And why should German companies even be supported by a major German bank, where there are big European champions, a common domestic market and German politicians, who are supposedly banking on a strong Europe? It seems that word and action diverge and distrust is not far away.

Perhaps one must point out at this point to a matter of course: Banks are not an end in itself. Society needs financial institutions first and foremost to finance businesses and investments and provide citizens with credit. This applies to regional, national and European. The basic functions of a bank must be reliably retrievable. And only if this works, financial institutions contribute to the general prosperity. It depends on the business model. Not on the goodwill of politics or sheer size.

Merkel has to help the German banks

Ten years have passed since the financial crisis, and a lot has happened in Frankfurt since then. That Merkel now promises help is good – because Germany needs strong banks.