UK-facing online gambling operator Sky Betting & Gaming (SBG) has confirmed its status as a global heavyweight, making the future look very bright indeed for soon-to-be-owner The Stars Group (TSG).
On Monday, TSG and SBG teamed up to present SBG’s latest financial performance figures through TSG’s ‘business acquisition report.’ TSG announced its $4.7b deal to acquire SBG in April, although it’s still waiting for the UK’s Competition and Markets Authority (CMA) to sign off on the deal.
However, the companies announced Monday that the CMA had released them from its initial enforcement order on Friday, thereby allowing them to proceed with their planning of the integration of the two companies, if not the actual process of integration. Baby steps.
SBG reported revenue of £670.5m in the 12 months ending June 30, a 30% improvement over the previous fiscal year’s result. Adjusted earnings shot up 43% to £208.6m and operating profit was up more than one-quarter to £86.7m.