The Stars Group‘s $4.7 billion acquisition of Sky Betting and Gaming cleared unconditionally

The merger combined the largest global and UK online poker platform (The Stars Group) with the largest online betting platform in the UK (Sky Bet). Sky Bet is also active in online poker and both are active in online casinos and gaming. CRA supported the merging parties in getting clearance, including through showing that users do not consider them close substitutes, despite their market positions, an empirical assessment of consumer acquisition and consumer journeys that suggests limited competition, and significant efficiencies through a common liquidity pool.