On June 21, 2018, The Stars Group Inc. (the “Company” or “The Stars Group”) announced the pricing of an underwritten marketed public offering of common shares of the Company at a price of US$38.00 per share. The offering consisted of a treasury offering of 17,000,000 common shares by the Company and a secondary offering of 8,000,000 common shares by certain shareholders. The net proceeds to the Company, after underwriting discounts and commissions, but before estimated expenses of the offering payable by the Company, were approximately US$622 million. The offering closed on June 26, 2018.
The Stars Group intends to use the net proceeds from the treasury offering, together with debt financing and cash on hand to fund its previously announced acquisition of Sky Betting & Gaming.
The Stars Group is a leading provider of technology-based product offerings in the global gaming and interactive entertainment industries, and the ultimate owner of industry leading gaming brands such as PokerStars, PokerStars Casino, BetStars, Full Tilt, and the PokerStars Live brands. Collectively, these and other brands of The Stars Group have millions of registered customers globally, forming one of the largest online gaming businesses in the world.
The Stars Group Inc. was represented by Osler, Hoskin & Harcourt LLP with a team consisting of Eric Levy, Bastien Gauthier, Rosalind Hunter and Jean-Philippe Bertrand (Corporate) and Manon Thivierge, Paul Seraganian and Julie Geng (Tax).