TORONTO, June 26, 2018 /CNW/ - The Stars Group Inc.
(Nasdaq: TSG) (TSX: TSGI) ("The Stars Group" or the "Company")
announced today the closing of its previously announced
underwritten public offering of common shares (the "Offering") at a
price of US$38.00 per common share. A
total of 17,000,000 common shares were sold by the Company and
8,000,000 common shares were sold by certain shareholders of the
Company (the "Selling Shareholders"). The net proceeds to the
Company, after underwriting discounts and commissions, but before
estimated expenses of the Offering payable by the Company, are
approximately US$622 million.
The Company and the Selling Shareholders have granted the
underwriters for the Offering an over-allotment option to purchase
up to 1,875,000 and 1,875,000 additional common shares,
respectively. The over-allotment option is exercisable for a period
of 30 days from June 21, 2018, the
date of the pricing of the Offering.
The Stars Group intends to use the net proceeds from the
treasury offering, together with debt financing and cash on hand to
fund the previously announced acquisition of Sky Betting &
Gaming, a leading mobile-led betting and gaming operator (the
"Acquisition"). If for any reason the Acquisition does not close,
the Company intends to use the net proceeds from the Offering for
general corporate purposes.
Morgan Stanley, J.P. Morgan and Deutsche Bank Securities acted
as the joint book-running managers and representatives of the
underwriters for the Offering. The additional joint book-running
managers for the Offering were Goldman Sachs & Co. LLC,
Barclays, BMO Capital Markets and Macquarie Capital (USA) Inc. The co-managers for the Offering
were Blackstone Capital Markets, Cormark Securities (USA) Limited, Canaccord Genuity Corp., Union
Gaming Securities, LLC and Investec Bank plc.
PJT Partners LP acted as strategic capital markets advisor to
the Company in connection with the Offering.
The common shares were offered in each of the provinces and
territories of Canada by way of a
prospectus supplement dated June 21,
2018 (the "Prospectus Supplement") to the Company's short
form base shelf prospectus dated January 16,
2018. The common shares were also offered in the United States pursuant to a prospectus
supplement to the Company's registration statement on Form F-10
(the "Registration Statement") filed with the U.S. Securities and
Exchange Commission under the U.S./Canada Multijurisdictional
Disclosure System. A copy of the Prospectus Supplement and related
short form base shelf prospectus, containing important detailed
information about the Offering, may be found on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov, and a copy of the
Registration Statement can be found on EDGAR at www.sec.gov. Copies
of the Prospectus Supplement and the Registration Statement may
also be obtained in the United
States from Morgan Stanley, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717; or Deutsche Bank Securities Inc., Attention: Prospectus
Group, 60 Wall Street, New York,
NY 10005-2836 and in Canada
from J.P. Morgan Securities Canada Inc., Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
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, The Stars Group, through its subsidiaries, currently
holds gaming licenses or approvals in 18 jurisdictions, with
PokerStars being the world's most licensed online gaming brand,
holding 17 of such licenses or approvals.
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, the
planned Acquisition, the use of proceeds from the Offering, and
plans regarding the financing of the Acquisition. 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
litigation risk, market and economic conditions, business prospects
or opportunities, future plans and strategies, projections,
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 Stars 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.