April 23, 2018 / 3:05 PM / 6 months ago

BUZZ-Stars Group: At 3-year high after 'game-changing' Sky Betting deal

** U.S.-listed shares of Canada-based Stars Group up 10 pct, hits >3-year high of $32.25 after deal to buy Sky Betting & Gaming (SBG)

** Online gambling firm to buy SBG from CVC Capital Partners and pay-TV group Sky plc in cash and stock deal valued at $4.7 bln

** Broker Eight Capital calls acquisition “game-changing” as SBG brings a “highly complementary” online sports betting business

** Deal adds geographic footprint in the largest regulated markets for gaming, the UK and Australia, diversifies TSG’s revenue away from poker and accelerates its sportsbook product roadmap - Eight Capital

** Nearly 500k TSG shares traded, ~1.5x their 30-DMA

** Toronto-listed Stars Group shares up 13.3 pct

** TSG up 42 pct YTD (Reporting by Amy Caren Daniel in Bengaluru)

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