TORONTO, Dec. 4, 2017 /PRNewswire/ - The Stars Group Inc.
(Nasdaq: TSG; TSX: TSGI) today announced that it has completed the
sale of its ordinary shares of Jackpotjoy plc (LSE: JPJ),
representing approximately 7.5% of Jackpotjoy's then issued and
outstanding ordinary shares, for net cash proceeds of $59.5 million. This sale follows The Stars
Group's November 2017 sale of its
securities of NYX Gaming Group Limited (TSXV: NYX) and a subsidiary
thereof, representing approximately 13.7% of NYX Gaming Group's
ordinary shares on a partially diluted basis, for net cash proceeds
of $26.3 million, and its
August 2017 sale of its approximately
40.45% ownership interest in Innova Gaming Group Inc. for net cash
proceeds of $16.1 million. Unless
otherwise noted, all dollar ($) amounts are in U.S. dollars.
These sales mark the completion of The Stars Group's divestiture
of its legacy non-core gaming investments for total net cash
proceeds this year of approximately $102
million. The Stars Group intends to use these proceeds for
general corporate purposes.
"The successful sale of these legacy non-core investments is
another step in our efforts to focus on our strategic business
objectives," said Brian Kyle, Chief
Financial Officer of The Stars Group. "The proceeds from our recent
divestiture efforts provide us with additional financial capacity
and flexibility to continue to execute on our organic and external
growth initiatives."
About The Stars Group
The Stars Group is a leading provider of technology-based
products and services in the global gaming and interactive
entertainment industries. Through its Stars Interactive Group
division, The Stars Group ultimately owns gaming and related
consumer businesses and brands, including PokerStars, PokerStars
Casino, BetStars, Full Tilt, StarsDraft, and the PokerStars
Championship, PokerStars Festival and PokerStars Megastack live
poker tour brands (incorporating aspects of the European Poker
Tour, PokerStars Caribbean Adventure, Latin American Poker Tour and
the Asia Pacific Poker Tour). These brands together have more than
115 million registered customers globally and collectively form the
largest poker business in the world, comprising online poker games
and tournaments, sponsored live poker competitions, marketing
arrangements for branded poker rooms in popular casinos in major
cities around the world, and poker programming and content created
for television and online audiences. The Stars Group, through
certain of these brands, also offers non-poker gaming products,
including casino, sportsbook and daily fantasy sports. The Stars
Group, through certain of its subsidiaries, is licensed or approved
to offer, or offers under third party licenses or approvals, its
products and services in various jurisdictions throughout the
world, including in Europe, both
within and outside of the European Union, the Americas and
elsewhere. In particular, PokerStars is the world's most licensed
online gaming brand, holding licenses or related operating
approvals in 17 jurisdictions.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements and
information within the meaning of the Private Securities Litigation
Reform Act of 1995 and applicable securities laws, including,
without limitation, as it relates to The Stars Group's intention
with respect to the proceeds from the sale of certain of its
investments. Forward-looking statements and information can, but
may not always, be identified by the use of words such as
"anticipate", "plan", "continue", "estimate", "expect", "may",
"will", "project", "predict", "potential", "targeting", "intend",
"could", "might", "would", "should", "believe", "objective",
"ongoing", "imply" and similar references to future periods or the
negatives of these words and expressions. These statements and
information, other than statements of historical fact, are based on
management's current expectations and are subject to a number of
risks, uncertainties, and assumptions, including market and
economic conditions, business prospects or opportunities, future
plans and strategies, projections, technological developments,
anticipated events and trends and regulatory changes that affect
us, our subsidiaries, and our and their customers and industries.
Although The Stars Group and management believe the expectations
reflected in such forward-looking statements and information are
reasonable and are based on reasonable assumptions and estimates as
of the date hereof, there can be no assurance that these
assumptions or estimates are accurate or that any of these
expectations will prove accurate. Forward-looking statements and
information are inherently subject to significant business,
regulatory, economic and competitive risks, uncertainties and
contingencies that could cause actual events to differ materially
from those expressed or implied in such statements. Specific risks
and uncertainties include, but are not limited to, those identified
in The Stars Group's Annual Information Form for the year ended
December 31, 2016, including under
the heading "Risk Factors and Uncertainties", and in The Stars
Group's management's discussion and analysis for the three and nine
months ended September 30, 2017,
including under the headings "Risk Factors and Uncertainties",
"Limitations of Key Metrics and Other Data" and "Key Metrics", each
available on SEDAR at www.sedar.com, EDGAR at www.sec.gov and The
Stars Group's website at www.starsgroup.com, and in other filings
that The Stars Group has made and may make with applicable
securities authorities in the future. Investors are cautioned not
to put undue reliance on forward-looking statements or information.
Any forward-looking statement or information speaks only as of the
date hereof, and The Stars Group undertakes no obligation to
correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
SOURCE The Stars Group Inc.