Flutter Entertainment, the owner of online betting giants Paddy Power and Betfair, has agreed to buy The Stars Group (TSG), the owner of Sky Bet, for £10bn. The deal will create the world's largest online betting company by revenue, and provides Flutter with a route into the fast-growing US market for sports betting. The combined group would have had revenues of £3.8bn last year. Receiving immediate approval from investors, and expected to create annual savings of £140m, the move saw shares in Flutter jump 20%. The deal also includes a commercial tie-up with US broadcaster Fox Sports.
