The Stars Group closes public offering

Canadian igaming firm The Stars Group has closed its public offering of common shares, reporting the sale of a total 25 million shares priced at US$38.00 each, raising US$622 million.

17,000,000 common shares were sold by the Company and 8,000,000 common shares were sold by certain shareholders of the Company, The Stars Group reported.

The Company and the Selling Shareholders have granted the underwriters for the Offering an over-allotment option to purchase up to 1,875,000 and 1,875,000 additional common shares, respectively, for a period of 30 days from June 21, 2018.

Net proceeds will be used to fund the acquisition of Sky Betting & Gaming, together with debt financing and cash on hand.