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The owners of FanDuel and PokerStars have struck a $12 billion deal to create the world's biggest online betting group

2nd October, 12:17

The owners of FanDuel and PokerStars have struck a $12 billion deal to create the world's biggest online betting group.

Flutter and The Stars Group, which generated combined revenues of $4.7 billion last year, plan to offer gambling products such as online sports betting, fantasy sports, and online poker.

The pair expect the merger to generate about $170 million in pre-tax cost savings, and boost Flutter's underlying earnings per share by 50% the year after the deal closes.

Watch Flutter and The Stars Group trade live.

The owners of FanDuel and PokerStars have struck a $12 billion deal to create the world's biggest online betting group.

Flutter and The Stars Group have agreed an all-share deal to bring together their brands such as Paddy Power, Betfair, Full Tilt, and Sky Bet. They plan to offer a broad portfolio of gambling products including online sports betting, fantasy sports, online poker, horse racing, free-to-play and...

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