FanDuel Owner Inks $6B Deal To Boost US Sports Betting Biz

By Ryan Boysen (October 2, 2019, 6:53 PM EDT) -- Ireland-based gambling conglomerate Flutter Entertainment PLC is buying up Canadian rival The Stars Group Inc. for $6 billion to form a powerhouse that aims to be a major player in the recently legalized U.S. sports betting market.

In a description of the deal presented to shareholders, Flutter said the tie-up would create a company with a presence in more than 100 countries, and one that's in a prime position to take advantage of the $450 billion global gambling market's growing shift to online.

About 11% of that market is online now, and as Flutter notes in the presentation, "Each one percentage...

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