TORONTO, April 24, 2018 /CNW/ - The Stars Group Inc.
(Nasdaq: TSG; TSX; TSGI) today announced that it has successfully
completed the previously announced acquisition of an additional 18%
equity interest in CrownBet Holdings Pty Limited and CrownBet has
successfully completed its acquisition of William Hill Australia
Holdings Pty Ltd. The acquisitions result in The Stars Group owning
80% of the combined businesses and create an operator of scale and
clear rival to the top two sportsbook operators in Australia, the world's second largest
regulated sports betting market.
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. The Stars Group directly or indirectly,
including through its Stars Interactive Group division, owns gaming
and related consumer businesses and brands, such as 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 PokerStars MEGASTACK live poker tour
and event brands. These brands together have millions of 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 and
other brands, also offers non-poker gaming products,
including casino and sportsbook. 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, Australia, 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, certain expectations and projections related to
the transactions described herein and certain future operational
and growth plans and strategies. 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", "assumes", "goal",
"likely" 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, ability to integrate, projections, technological
developments, anticipated events and trends and regulatory changes
that affect The Stars Group, its subsidiaries, and its 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 certain expectations relating to the transactions
described herein and the impact thereof on The Stars Group's
business. Other applicable 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, 2017,
including under the heading "Risk Factors and Uncertainties", and
in its management's discussion and analysis for the year ended
December 31, 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.
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SOURCE The Stars Group Inc.