Pokerstars Group Gobbles Up More CrownBet Shares
March 7, 2018
Almost immediately after William Hill announced it was selling its Australian business to Crownbet, The Stars Group (Parent company of Poker Stars) announced it had increased its investment share of Crownbet from 62% to 80%.
The Stars Group had made its first purchase of the 62% mentioned above on February 27th. That initial investment purchase was $117 million AUS ($91 million USD). The Stars Group announced it will pay for the acquisition of William Hill Australia by CrownBet and in turn become an 80% stakeholder in the Crownbet company. The total amount spent by The Stars Group is $315 millions USD.
The Stars Group is a Canadian company which owns brand names Pokerstars and Full Tilt (among several others). The company was created in 2001.
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