The parent company of online gambling giant PokerStars has reached a US$4.7b deal to acquire Sky Betting & Gaming (SBG).

Early Saturday morning, Toronto-listed The Stars Group Inc announced that it had reached a deal with CVC Capital Partners and Sky plc to acquire the UK-licensed SBG online gambling operation for $3.6b in cash and roughly $1.1m in 37.9m newly issued common shares (representing roughly 20% of TSG’s issued and outstanding common shares).

The union of TSG and SBG is expected to close in Q3, assuming regulators in the companies’ respective jurisdictions give their okay. Firing a shot across the newly expanded GVC Holdings’ bow, TSG humble-bragged that the deal would create “the world’s largest publicly listed online gaming company.” TSG also said it expects to realize $70m in annual cost ‘synergies,’ so start updating your résumés, people.

SBG is one of the UK’s fastest growing online gambling operators, generating revenue of £624m and earnings of £212m in 2017, year-on-year improvements of 46% and 51%, respectively. SBG’s brands include Sky Bet, Sky Vegas and Sky Casino.