Decision opens the door for The Stars Group to
expand business broadly in the United
States
TORONTO, May 15, 2018 /PRNewswire/ - The Stars Group
Inc. (NASDAQ: TSG; TSX: TSGI) reacted today to the decision by
the United States Supreme Court to strike down, as an
unconstitutional exercise of federal power, the nearly 30-year ban
on sports betting under the Professional and Amateur Sports
Protection Act, or PASPA.
Congress enacted PASPA in 1992, which resulted in all states,
other than Nevada and three
others, being prohibited from authorizing sports betting. The
litigation that reached the Supreme Court arose from New Jersey's repeated attempts to resist the
federal ban and to legalize sports betting within the
state.
"The decision by the Supreme Court is an important step forward
in the regulation of sports betting in the United States," said Marlon Goldstein, Executive Vice President and
Chief Legal Officer of The Stars Group. "We believe we are
well-positioned to take advantage of any new business and market
opportunities, and to work with state legislatures in setting up
sports betting frameworks that satisfy local consumers' interest in
sports betting while protecting them through safe and regulated
betting environments."
The decision follows The Stars Group's recent announcement of
its agreement to acquire Sky Betting & Gaming, the fastest
growing established sports betting operator in the United Kingdom, the world's largest online
gaming market, and its recent acquisition of 80% of the combined
CrownBet and William Hill Australia businesses, which combined form
the third largest online sports betting operator in Australia, the world's second largest online
gaming market. The acquisition of Sky Betting & Gaming, which
is expected to close in the third quarter of 2018, will create the
world's largest publicly listed online gaming company with massive
global scale, deep industry expertise, unrivalled brand awareness,
a robust technology platform, expansive player database, and deeply
rooted focus on the customer, all of which together will support
The Stars Group in establishing itself as an important participant
in emerging markets like the United
States.
About The Stars Group
The Stars Group is a leading provider of technology-based
product offerings 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 product offerings 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 and
Other Information
This news release may contain forward-looking statements and
information within the meaning of applicable securities laws,
including, without limitation, certain future financial,
operational and growth expectations of The Stars Group, including
as it relates to the potential regulation of sports betting in
the United States and the
completion of the acquisition of Sky Betting & Gaming.
Forward-looking statements can, but may not always, be identified
by the use of words such as "anticipate", "plan", "continue",
"estimate", "expect", "may", "will", "intend", "could", "might",
"would", "should", "believe", and similar references to future
periods or the negatives of these words and expressions. These
statements 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 The Stars Group, its subsidiaries,
and its and their respective customers and industries. There can be
no assurance that actual results will not differ materially from
those expressed or implied in forward-looking statements. Undue
reliance should not be placed on forward-looking statements. Please
refer to The Stars Group's most recent annual information form and
annual and interim financial statements and management's discussion
and analysis for more information about the factors, assumptions
and risks that may apply to The Star's Group's forward-looking
statements. Each forward-looking statement 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.