The Stars Group Agrees to Acquire BetEasy Minority Interest; Settles Performance Payment
THE STARS GROUP INC (TSG)
Last the stars group inc earnings: 2/27 02:00 am
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starsgroup.com/the-stars-group/investor-relations/financial-and-corporate-information
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Source: PR Newswire
TORONTO, Dec. 3, 2019 /PRNewswire/ -- The Stars Group Inc. (Nasdaq: TSG) (TSX: TSGI) today announced that it has agreed with the minority shareholders of BetEasy, its Australian-based sports betting business, to acquire the remaining 20% interest in the company for AUD$151 million. As part of this agreement, The Stars Group also agreed to pay AUD$100 million to settle the previously disclosed performance payment under the agreements for its 2018 acquisition of the initial 80% interest. "I'm delighted to reach this agreement for our BetEasy business," said Rafi Ashkenazi, Chief Executive Officer of The Stars Group. "The launch of BetEasy through our acquisitions of CrownBet and William Hill Australia in 2018 created one of the leading operators in Australia and increased our exposure to a high-growth regulated market. Matt Tripp's entrepreneurial spirit and vision has guided BetEasy since he founded the business and we are glad he will oversee the transition as non-executive President,
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