$4.7 billion is a large sum of money. It’s also the amount The Stars Group – parent company of PokerStars – say it has agreed to pay in return for UK-based Sky Betting & Gaming.
It’s pretty hard to classify this as anything other than a giant, brassy, bold-as-hell wager on sports betting maintaining its position as the fastest growing segment of the online gambling industry.
For The Stars Group, the torrid growth of global online sports betting coupled with the United States’ pending repeal of PASPA makes increasing its sports betting capabilities an undoubtedly smart move. The sheer amount of money makes it seem like a huge gamble, but if the play is sharp and you have the capital, getting the bet down is better than sitting on the sidelines.
In this case, only time will tell – but The Stars Group may not have to wait very long to to settle its bet.